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Staff outlines GMA retirement option with employee match, tentative May 1 start
Summary
City staff presented a proposal to enroll employees in a combined 401(a)/457(b) plan administered by GMA that would include employee Roth contributions, employer matching up to 5% of pay, and initial annual employer cost estimated at roughly $16,519.55.
City staff detailed a proposed employee retirement package at the Walnut Grove City Council work session on March 26. The plan, described as a combination 401(a) and 457(b) administered by GMA, would allow employee Roth contributions with employer matching contributions and a tentative effective date of May 1.
The staff presentation said eligible employees would include all city employees and elected or appointed members…
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