Silver Creek board approves new retirement-advisory vendor, district says no cost to taxpayers

The Silver Creek School Corporation board unanimously approved switching its employee retirement-advisory services after a yearlong review, a district administrator told the board.

Doctor Balmer, who presented the financial and operations update and the vendor recommendation, said a committee interviewed multiple providers and recommended Shepherd (listed in the board packet variously as "Sheffield/Shepherd") because it offered the lowest fees and stronger education for employees. Balmer told the board the change affects who employees consult for their 401(a) and 403(b) plans and will be handled by district staff; he said there is no cost to the district and employees should see lower overall fees on their accounts.

Board member Mister Groen moved to bring the agreement to the floor; Mister Basham seconded. The board approved the motion on a voice vote, 5-0.

Balmer framed the change as part of broader efforts to reduce costs; earlier in the meeting he said the district reduced appropriation spending by more than $300,000 for 2026 through staff attrition and contract savings. He said the district will communicate the transition to employees and that, during the changeover, participants need not take action on their accounts.

The board packet described the item as a financial-advisory-services agreement; the district will publish additional implementation steps and employee communications once the vendor transition schedule is finalized.

The board took the vote as part of its regular agenda; no member recorded a dissenting vote.