Carroll County board approves move of county 457(b) plan into state retirement program

The Carroll County Board of Supervisors voted to permit a change that would move the county’s 457(b) deferred compensation plan into the State of Iowa retirement program.

Staff reported that a follow‑up webinar about a week-and-a-half earlier drew about 12 of the county’s 17 current contributors and that those attendees signaled support for the change. The staff presentation said the state plan would shift many administrative responsibilities to the state and that participants should see lower investment and management fees by joining a larger plan.

Officials also noted a small one‑time employer startup fee and an annual administrative fee payable by the county. Staff estimated the one‑time startup fee at roughly $100–$400 depending on employer size and an annual employer fee in the range of about $50–$500, and said termination fees are generally waived after the first year. The board did not receive objections during the public outreach described by staff.

A motion to allow the change was moved, seconded and carried by voice vote. The staff representative said the county would retain employer responsibilities for eligibility and payroll deductions while the state would assume broader plan administration.

The board’s approval authorizes staff to proceed with the administrative steps required to enroll the county plan in the State of Iowa retirement plan; the county will provide detailed enrollment and fee information to the board as part of implementation work.

The county’s next steps include finalizing the schedule for implementation and notifying plan participants of the change and any election windows or paperwork required.