Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Retirement Benefits topic
No spam. Unsubscribe anytime.
Daggett County to raise regular employee 401(k) match to 2%
Summary
Commission voted to increase the county employer contribution to regular employees’ 401(k) from 0.5% to 2% (an additional 1.5 percentage points), after staff said the budget can cover the change; commissioners asked for dollar-cost details and praised support for employees.
Daggett County commissioners voted to raise the county employer contribution to regular employees’ 401(k) plans from 0.5% to 2%, an increase of 1.5 percentage points intended to capture savings from prior reductions in URS contribution rates. "When URS lowered their contribution rates in prior years, the county historically kept the difference and put it into a 401(k)," staff member Carrie explained during the presentation.
Carrie told the commission that the county’s budget shows capacity to cover the increase and provided percentage comparisons between Tier 1 and Tier 2 employees. The Chair said the extra match was "a good effort to support the benefit package for county employees," and moved to implement the additional 1.5%. Commissioner Randy seconded the motion, which passed unanimously. Commissioners requested a follow-up memo showing the dollar amount increase (both the total retirement budget and the incremental cost of 1.5%) before final administrative implementation.
