Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee reviews move to Empower Retirement for county deferred compensation plans; no committee vote recorded
Summary
New Castle County’s Administrative Finance Committee on Sept. 9 discussed Resolution 25-155, which would authorize the county executive to execute a master services agreement with Empower Retirement LLC to serve as third-party administrator for the county’s 457(b) deferred compensation plan and the 401(a) defined-contribution portion of the county 2011 plan.
New Castle County’s Administrative Finance Committee on Sept. 9 discussed Resolution 25-155, which would authorize the county executive to execute a master services agreement with Empower Retirement LLC to serve as third-party administrator for the county’s 457(b) deferred compensation plan and the 401(a) defined-contribution portion of the county 2011 plan. The committee did not record a committee vote on the resolution during the session.
The measure, introduced by Councilman John Cartier, was presented as a replacement for the county’s current administrator, MetLife. Council members and staff focused on the transition process, expected administrative fee savings and continuity of service for plan participants. “We…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
