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Select board considers rejoining health trust and adopting 403(b) retirement accounts
Summary
Town staff outlined options to rejoin the municipal health trust and to offer retirement benefits through MissionSquare (403(b)); a motion was made to adopt MMA health plans and to offer a 403(b) with the town covering the $25 annual account fee, but the transcript does not record a formal recorded vote outcome.
Remy briefed the Mount Vernon Select Board on three employee-benefit paths the town can pursue: rejoining the municipal health-insurance trust (MMA), continuing or adopting Main PERS retirement options, or offering a 403(b) retirement account through MissionSquare. Remy said the town previously participated in the health trust and that rejoining would require a vote; MissionSquare requires adoption plus a decision whether the town covers a $25 annual maintenance fee per account.
Board members discussed the likely uptake and the budget implications. Several said that because most current town employees are part-time, few are likely to enroll in employer-sponsored medical coverage, though dental, vision and life plans may be used by some. Remy noted MissionSquare’s $25-per-account annual fee is commonly paid by employers and that MissionSquare or the health-trust representative will provide training and a point of contact; he recommended the board cover the maintenance fee to reduce friction for employees who open accounts.
A motion was moved on the record to adopt the MMA health-trust plan options presented (medical, dental, vision, life and supplemental benefits) and to offer retirement benefits through a 403(b) plan with the town covering the $25-per-account fee. The transcript records the motion language and that a board member said Dan (a fellow member) was in favor, but a roll-call or final vote total is not included in the provided transcript portion.
Board members directed staff to prepare the formal paperwork and, if the board confirms a vote, to proceed with enrollment steps and training for designated staff members who will administer the accounts.
