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Bedford County retirement portal to post interest daily; paper statements phased out
Summary
At its March 3 meeting, the Bedford County Retirement Board heard that a new online retirement portal will show interest daily instead of an annual posting and is estimated to launch in 6–8 weeks; staff will provide printed statements on request and educational materials to support adoption.
Consultant David Reichert and advisory participant Lori Black updated the Bedford County Retirement Board on March 3 about an upcoming online retirement portal that will replace the older PTG system.
Under the former PTG system, interest posted annually. Reichert said the new portal will update interest daily and that employees will no longer see a single year-end interest entry (for example, a 12/31 posting). He confirmed annual reports can still be generated if needed. Reichert and Black told the board the estimated portal launch is six to eight weeks, pending final data validation.
Board staff said employees without internet access may request printed statements and that staff will provide instructional materials and education to support portal adoption. Once the portal is active, annual paper statements will no longer be produced routinely, though staff will accommodate individual requests.
Next steps: staff will complete data validation and prepare outreach and instructional materials ahead of the portal launch.
