Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Retirement Plans topic
No spam. Unsubscribe anytime.
Commission pushes Prudential retirement amendment back a week to consider opt-in option
Summary
Commissioners paused action on an amendment to the Prudential retirement administrative agreement after concerns employees would be forced repeatedly to re-enroll; staff will return with an opt-in option and reeducation plan.
The Utah County Commission voted to continue consideration of an amendment to the Prudential Retirement administrative services agreement for one week so staff can examine an opt-in alternative and the vendor re-enrollment schedule.
County staff described a contribution-acceleration feature that would incrementally increase employee contributions toward a target percentage; the current proposal places employees on an opt-out schedule requiring annual re-confirmation. Commissioners expressed concern that the paperwork and short opt-out window would generate confusion and heavy administrative calls in early January; one commissioner said such a timing "is not an opt out that's easy" and urged staff to present an opt-in option for review.
The commission asked staff to confirm how far along contract execution is and whether an opt-in program can be implemented immediately; commissioners also requested a reeducation plan for employees if automatic enrollment proceeds. The item was continued for one week with staff directed to bring back an opt-in option for the commission's approval.
