Committee hears deferred compensation plan with modest revenue uptick, contingency stays in fund
Budget staff told the Finance & Personnel Committee the 2027 deferred compensation budget shows no FTE changes, a $36,000 revenue increase funded by participant fees, and a $75,000 contingency that remains in the benefit fund; the Voya contract was renewed for six months while staff evaluates four finalists.
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The Finance & Personnel Committee heard the 2027 proposed budget for the city's deferred compensation program, which staff said involves no authorized changes in positions and a small net increase in revenues.
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