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Kissimmee commissioners ask staff to return April 1 with 457 deferred-compensation plan details
Summary
The Kissimmee City Commission directed staff to return to the commission on April 1 with a written proposal and presentation on using the city's existing 457 deferred-compensation plan as the primary retirement vehicle for commissioners, City Manager Jack Espinosa said.
The Kissimmee City Commission directed staff to return to the commission on April 1 with a written proposal and presentation on using the city’s existing 457 deferred-compensation plan as the primary retirement vehicle for commissioners, City Manager Jack Espinosa said during a presentation.
Espinosa told commissioners that the plan already exists for city employees and “the City Charter allows commissioners to receive a retirement benefit.” He said converting the existing 457 program for commissioners would be straightforward and would require transferring funds to cover the city match, which he described…
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