Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pensions topic
No spam. Unsubscribe anytime.
County staff present plan to raise employer retirement match to 4% to aid recruitment
Summary
A consultant recommended increasing the county employer match from 3% to 4% for the defined-contribution retirement plan to better compete for public safety employees; the board asked staff to return with a resolution for a future meeting.
County Manager Paul Van Haute introduced consultant Greg Gease at the Dec. 5 meeting to review neighboring counties’ retirement programs and recruitment strategies.
Gease presented a handout comparing retirement plans and recommended increasing the employer match for Putnam County’s defined-contribution plan from the current 3% to 4% to help with recruitment and retention, particularly for public safety staff. He said roughly 80% of county employees participate in the defined-contribution program, though not all contribute at the maximum level.
Van Haute told the board that staff will prepare a resolution for a future meeting to implement the recommended change; no formal vote or ordinance was taken on Dec. 5.
If commissioners choose to proceed, the change would be returned to the board for a formal vote and any required budget or ordinance adjustments.
