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Commissioners approve continuation of Nationwide 457 deferred-compensation plan for existing employees
Summary
John Butler of the auditor's office asked the board to continue a Nationwide 457 deferred-compensation plan for employees who enrolled before 2022; commissioners approved the continuation, noting the plan is employee-funded and carries no county cost.
The Saint Joseph County Board of Commissioners on June 24 voted to continue a Nationwide 457 deferred-compensation adoption agreement for employees who previously enrolled in that plan.
John Butler of the auditor's office told commissioners the Nationwide 457 plan is an employee-funded deferred-compensation option that the county offered beginning in 2012. He said the county no longer offers that plan to new hires after 2022 because the state-sponsored HoosierStart plan administration moved to Nationwide; the current request is simply to continue administration for existing employee accounts with no county cost.
Butler described the continuation as administrative and said the plan continuation requires substantial paperwork but imposes no expense to the county because employee contributions fund the accounts. Commissioners moved to approve the continuation; the motion passed with votes recorded as: Mr. Horton — Aye; Mr. Hayden — Aye; Mr. Pasco — Aye.
Butler thanked staff for their work on the paperwork; commissioners approved the item without further amendment.
