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St. Mary’s County committee reviews Jan.–June 2025 457(b) plan; participation and engagement rise
Summary
The St. Mary’s County 457(b) governance committee reviewed a Voya report showing the plan’s assets rose to $25.7 million by June 30, 2025; contributions and digital engagement increased and trustees discussed a new forced‑distribution threshold tied to federal SECURE 2.0 legislation.
The St. Mary’s County 457(b) governance committee on Sept. 25 reviewed a Voya report showing the plan’s assets rose to $25.7 million as of June 30, 2025, and accepted the plan summary. The presentation, delivered during new business, summarized contributions, participant counts, small‑balance policy changes and engagement metrics.
Committee members accepted the summary after a short discussion. Tracy McPherson, deputy director of human resources and employee representative, presented the Voya Jan. 1–June 30, 2025 plan summary and walked trustees through participation, contribution and engagement data.
Why it matters: the 457(b) plan is a county employee retirement benefit; changes in contributions, forced‑out thresholds…
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