40.
Commissioners Court - Regular Session
- Meeting Date:
- 07/20/2021
- Title:
- 457B Deferred Comp Program
- Submitted By:
- Nathan Zinsmeyer, County Auditor
- Department:
- County Auditor
- Agenda Category:
- Regular Agenda Items
Information
Agenda Item
Discuss, consider and take appropriate action regarding the Deferred Compensation Committee recommendations for Williamson County’s 457B Plan.
Background
Nationwide is Williamson County’s 457B/Deferred Compensation provider. The Deferred Compensation Committee has been in discussions with Nationwide to make the plan more competitive and provide more options for participants. The below are the committee’s recommendations.
Committee Recommendations:
Committee Recommendations:
- Update Nationwide 457B Plan Documents to include ROTH retirement option.
- Reduce Nationwide administration fee pricing on all Variable Assets from 50/50/50 to 15/15/15. This will decrease current Nationwide Fix Rate account amount to 2.00%.
- Add Nationwide Indexed Principal Protection option, as a complimentary program to the Nationwide Fixed Rate account.
- Add Schwab Personal Choice Retirement Account (PCRA) for interested employees that are eligible.
- Add Fidelity Advisor Freedom Series as an alternative Target Date fund for employees.
Fiscal Impact
| From/To | Acct No. | Description | Amount |
|---|
Attachments
- Nationwide Indexed Principal Protection - IPP Flyer
- Schwab Personal Choice Retirement Account (PCRA)
- Updated Nationwide Plan Documents to include ROTH
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| County Judge Exec Asst. | Andrea Schiele | 07/15/2021 11:35 AM |
- Form Started By:
- Nathan Zinsmeyer
- Started On:
- 07/15/2021 10:57 AM
- Final Approval Date:
- 07/15/2021