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Commissioners approve a suite of voluntary Secure 2 provisions for county 457(b) plan
Summary
Cameron County Commissioners on Oct. 7 approved several voluntary distribution options under the Secure 2 changes for the county’s supplemental 457(b) retirement plan, including immediate contribution changes, qualified birth/adoption distributions, hardship self-certification, domestic-abuse distributions and disaster distributions; one item was
Cameron County Commissioners on Oct. 7 approved multiple voluntary plan amendments to the county’s supplemental 457(b) retirement plan that adopt optional provisions created or clarified by the federal Secure 2 legislation.
Consultants from Retirement Plan Advisors (RPA) and the plan recordkeeper, Empower, explained the package and noted which items are optional and which require a formal election by the county. County staff and consultants described the changes as voluntary amendments to the county’s existing plan documents rather than federally mandated changes.
The court tabled one item, treatment of student loan payments (listed as section 1.10), until federal guidance is finalized. Commissioner…
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