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Board hears changes to supplemental retirement plans allowing emergency, abuse and terminal-illness distributions
Summary
Staff described amendments to the county’s supplemental retirement (403(b)/457) offerings to allow distributions for federally declared emergencies, certified domestic abuse, and terminal illness, with an effective date and confidentiality notes about provider communications.
A staff member updated the Burke County Board of Education on changes to the supplemental retirement plans offered to employees (403(b) and 457 accounts) to add three distribution options.
The changes, effective Nov. 1, add a provision allowing distributions after a federally declared disaster (with paperwork submitted within 180 days of the event) and a…
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