Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pay And Benefits topic
No spam. Unsubscribe anytime.
Board approves 1% district annuity match for employees; American Fidelity selected as provider
Summary
Boone County Schools approved a district-funded 1% match to employee base pay for an annuity plan, aiming to improve long-term retirement savings and staff recruitment; American Fidelity will administer the program, officials said.
The Boone County Board of Education approved a district annuity match program that will provide a 1% employer match on employees’ base salary beginning July 1. The board also selected American Fidelity as the match provider, administrators said.
Superintendent Dr. Hauswold described the move as part of a broader effort to close wage gaps and strengthen benefits to attract and retain staff. “The benefits will be immediate,” he said, noting the long-term value of compounding interest for early-career employees.
Board member Karen Byrd, who supported the choice of American Fidelity, said the company already partners with the district on scholarships and other education initiatives and will bring outreach and enrollment support for staff. “They are also giving back,” Byrd said, noting the company’s involvement with district scholarships and student support programs.
Administrators said the match aims to complement the state retirement system and to offer an additional layer of retirement savings for employees who do not participate in Social Security. The superintendent said the district will conduct outreach and educational meetings for staff with a goal of high first‑year participation; administrators mentioned a target participation rate of about 75–80% for year one.
The board voted 5–0 to approve the program and the provider. District staff said more detailed implementation materials and enrollment steps will be shared with employees in the coming weeks.
