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Council to finalize revisions to MissionSquare 401/457 plans to add catch‑up and Roth loan options
Summary
City HR presented second‑reading changes to the MissionSquare 401 and 457 retirement plans to add a 60‑year catch‑up provision, Roth loan options and certain emergency withdrawals; staff said the changes will not cost taxpayers and aimed to make the changes effective Oct. 1 pending signature.
PUNTA GORDA, Fla. — City Human Resources presented a second reading of changes to the MissionSquare 401 and 457 retirement plans that would expand catch‑up contribution windows, allow Roth loan treatment and add distribution options for employees with qualifying emergency needs.
Jeff Payne, HR manager, told council the amendments include a new catch‑up option for…
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