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Walker County to present amendment to 'unfreeze' pension plan — participant meeting set for March 20
Summary
County staff and counsel told the board the county's pension plan will be amended to 'unfreeze' compensation calculations effective Jan. 1, 2025; a participant Q&A with benefits and actuarial representatives was scheduled for March 20 at 6 p.m. at the Walker County Civic Center.
County counsel and the benefits adviser presented a memo and told the Board of Commissioners that Walker County’s employee pension plan will be amended to address outdated compensation references and early‑retirement language and to bring plan documents into alignment with ERISA and IRS requirements.
Why it matters: Plan language the presenters described as “frozen” has not been updated since Jan. 1, 2013, and the amendment will recalibrate compensation references used for calculations, clarify…
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