Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Governance Administration topic
No spam. Unsubscribe anytime.
Votes at a glance: retirement-plan admin renewal and PTO donation approved
Summary
The committee approved renewal of the voluntary retirement-savings plan administration agreements (403(b)/457(b)), effective Sept. 1, 2026, and accepted a $5,639.58 donation from the Lincoln Middle School PTO for the theater department.
Two routine items followed the compensation vote.
Retirement plan administration renewal: a presenter (speaker 7) asked the committee to approve three-year administration agreements for Lynchburg City Schools’ voluntary 403(b) and 457(b) employee plans, effective Sept. 1, 2026 and auto-renewing annually thereafter unless cancelled. The presenter said there is no cost to the school division; the administrator invoices vendors and the vendor-side administrative fee was described as $1.50 per participant per month. The presenter said the plan covers about 192 participants, producing roughly $3,500 per year in billed fees to plan vendors or participants.
The committee moved and approved the agreements by roll call.
PTO donation: the committee also approved a $5,639.58 donation from the Lincoln Middle School PTO to that school’s theater department, which requires board approval for gifts above $5,000 under district policy; the motion passed by roll call.
Roll-call outcomes: both motions carried; the clerk recorded affirmative votes during the roll calls.
