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HWMA delays decision on employer 457 match; board asks staff for January follow‑up
Summary
Board members discussed 3% and 5% employer match options for employee 457 plans but expressed concern about raising rates after recent increases. Directors leaned to defer a decision until the January meeting; staff will return with budget details and draft policy language.
The Humboldt Waste Management Authority on Nov. 13 took up a presentation and lengthy discussion about offering an employer match on employee 457 deferred‑compensation plans but did not adopt a match. Staff presented participation data, peer practices and cost estimates; board members generally agreed more information is needed before moving forward.
Executive staff told the board HWMA has 35 FTE positions with 30 currently filled and that 11 employees participate in 457 plans (up from 8 earlier this year). Staff reported two employees would participate regardless of a match and four more would join only if a…
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