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Committee reviews adding 457 retirement option for employees; no district cost reported
Summary
Dr. Beverlin outlined a proposed 457 retirement-savings option similar to 403(b) and 401(k); the committee decided to place the 457 plan on the Board meeting agenda as an information/discussion item and noted there is no cost to the district to provide the option.
Dr. Beverlin described the 457 plan as an additional retirement-savings option for employees, functionally similar to a 403(b) or 401(k). He told the committee the district would incur no direct cost to offer the option to employees.
Committee members agreed to list the 457 plan as an information and discussion item for the upcoming Board meeting rather than taking immediate action. The committee recorded no vote on adopting the plan at the Finance Committee meeting.
