Summary
To: Town Commission
From: Gay Lancaster, Town Manager
Date: 3/18/2025
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Subject:
Title
Resolution 2025-09 Amending Deferred Compensation Plan (457)
Summary:
Amending the Town’s Deferred Compensation Plan to include Roth Contributions and additional distribution options to comply with Secure Act 1.0 (2019) and Secure Act 2.0 (2022) made into law. The addition of this option allows the Town to continue to offer employees fifty years of age and older to make catch-up and super catch-up contributions to their plan.
End
Body
Previous Commission Action: Last Plan Amendment May 04, 2021.
Recommendation: Staff recommends approval.
Proposed Motion: Move approval of Resolution 2025-09 Amending Deferred Compensation Plan (457).