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Montour adopts NYS Deferred Compensation Plan for eligible employees
Summary
The Town of Montour adopted the New York State Deferred Compensation Plan (Resolution #13) to allow voluntary participation by eligible employees and authorized town officials to execute required agreements.
The Town Board unanimously adopted Resolution #13 on March 11 to implement the New York State Deferred Compensation Plan, allowing eligible town employees to participate voluntarily.
The resolution (moved by Councilperson Brian Stamp, seconded by Councilperson Breana Yessman) authorizes appropriate town officials to take necessary actions and enter agreements required for adoption, implementation and maintenance of the plan. The Administrative Services Agency was authorized to file required documents with the State of New York Civil Service Commission.
The action provides an optional retirement-savings vehicle for town employees; the board took the step without recorded public comment and by a 4–0 vote.
