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School board defers vote on USI retirement-plan contract after firm offers compromise
Summary
The Knox County Board of Education voted to defer action on a contract to name USI Consulting the district's 403(b) plan administrator after USI proposed a compromise to preserve current clients' arrangements; the board set the item for reconsideration next month.
The Knox County Board of Education on Thursday deferred a planned vote to name USI Consulting Group as administrator for the district—s 403(b) platform, after the successful bidder proposed a compromise to protect current employees' vendor arrangements.
Board Chair Reverend Butler and staff told members USI contacted district officials after earlier discussion and offered to let "current clients stay where they currently are, through the end of their employment," a change staff said could be incorporated into contract terms. "USI Consulting did reach out to our team after Monday, and has proposed a…
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