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Russell Springs approves participation in Kentucky public‑employee deferred compensation plans
Summary
The council adopted Resolution 2026‑0‑06 allowing city employees to participate in Kentucky Public Employees Deferred Compensation Authority plans (457 and 401k options); the resolution authorizes the mayor to execute related agreements and states there is no city cost to adopt the plans.
The Russell Springs City Council on March 12 voted to adopt Resolution 2026‑0‑06, which authorizes the city to participate in the Kentucky Public Employees Deferred Compensation Authority plans, including 457 and 401(k) options and associated Roth features.
The resolution text (read at the meeting) states the plans are established by the Kentucky General Assembly under KRS provisions cited in the resolution and that political subdivisions may adopt the plans for their eligible employees. The resolution authorizes the mayor to execute the agreement and related documents necessary for participation and notes the program imposes no direct cost to the city; participation requires payroll withholding for employee contributions.
Councilmembers moved, seconded and voted by roll call; the motion carried. No substantive questions or objections were raised during the council discussion recorded in the meeting.
Next steps: the mayor is authorized to sign the agreement and staff will implement payroll withholding and any required enrollment steps for interested employees.
