July 23, 2014 at 2:10 p.m.
Savings plan apporved (09/08/2008)
Jay County Commissioners
By By STEVE GARBACZ-
Members of the Jay County Sheriff's Department are getting a new program to save for retirement.
The Jay County Commissioners approved an ordinance this morning signing on to a new deferred compensation program that will allow staff from the department, including jail staff and dispatchers, to better manage their retirement savings.
They will not be available to other county employees.
Elaine Beaty of McCready and Keene Inc. and Ed Payntor of Morgan Stanley described the benefits of the program, which has been endorsed by the Indiana Sheriff's Association, to the commissioners.
"We're going to do all the big picture financial planning," Payntor said, explaining that many people don't consider retirement savings until their mid-life.
The new program will allow enrolled employees to take a deduction out of their paycheck that can be invested into high-performance mutual funds managed by the firm.
The county offers a deferred comp program, but the sheriff's-department-only plan can provide better benefits to employees.
"Their mutual funds are better than deferred comp," said Lt. Matt Tarter.
"Maybe this would help with retention," said chief deputy Rob Bicknell.
Although Jay County Auditor Nancy Culy expressed some concern about adding another deduction for her office's employees to handle in the payroll process, the commissioners couldn't deny better benefits to county workers.
"What do you think?" commissioner Faron Parr asked sheriff Ray Newton.
"If I didn't think it was a good plan I wouldn't be here," he answered.
"I don't have a problem with people saving money," said commissioners president Milo Miller Jr.
"I don't want to deny them the opportunity to save money," agreed commissioner Gary Theurer.
In other business this morning, the commissioners:
•In their capacity as Jay County Drainage Board, approved a motion to include a small strip of bare land at 2297 South U.S. 27 recently purchased by a resident in the area's drainage assessment.
•Briefly discussed golf cart and off-road vehicle usage with attorney Lon Racster.
Racster is continuing to work on a rough draft of an ordinance that would allow traffic from both types of vehicles on county roads.
•Were informed by Miller that a company was hired to clean up some trees and vegetation on a county owned lot at 350 W. Washington St. in Dunkirk.
A tree there had caused some damage to a neighbor's fence in the past.
•Informed Randy Brotherton he would need to speak with the Board of Zoning Appeals about his plans to build a hog trailer washing facility on his property on county road 400 North, west of U.S. 27.
His original request to Jay/Portland Building and Planning was denied since the planned facility was not specified by any available zoning definitions.
The commissioners told him to bring an outline of his plans to the board to explain the operation would be for his personal use only and would not be a commercial facility.[[In-content Ad]]
The Jay County Commissioners approved an ordinance this morning signing on to a new deferred compensation program that will allow staff from the department, including jail staff and dispatchers, to better manage their retirement savings.
They will not be available to other county employees.
Elaine Beaty of McCready and Keene Inc. and Ed Payntor of Morgan Stanley described the benefits of the program, which has been endorsed by the Indiana Sheriff's Association, to the commissioners.
"We're going to do all the big picture financial planning," Payntor said, explaining that many people don't consider retirement savings until their mid-life.
The new program will allow enrolled employees to take a deduction out of their paycheck that can be invested into high-performance mutual funds managed by the firm.
The county offers a deferred comp program, but the sheriff's-department-only plan can provide better benefits to employees.
"Their mutual funds are better than deferred comp," said Lt. Matt Tarter.
"Maybe this would help with retention," said chief deputy Rob Bicknell.
Although Jay County Auditor Nancy Culy expressed some concern about adding another deduction for her office's employees to handle in the payroll process, the commissioners couldn't deny better benefits to county workers.
"What do you think?" commissioner Faron Parr asked sheriff Ray Newton.
"If I didn't think it was a good plan I wouldn't be here," he answered.
"I don't have a problem with people saving money," said commissioners president Milo Miller Jr.
"I don't want to deny them the opportunity to save money," agreed commissioner Gary Theurer.
In other business this morning, the commissioners:
•In their capacity as Jay County Drainage Board, approved a motion to include a small strip of bare land at 2297 South U.S. 27 recently purchased by a resident in the area's drainage assessment.
•Briefly discussed golf cart and off-road vehicle usage with attorney Lon Racster.
Racster is continuing to work on a rough draft of an ordinance that would allow traffic from both types of vehicles on county roads.
•Were informed by Miller that a company was hired to clean up some trees and vegetation on a county owned lot at 350 W. Washington St. in Dunkirk.
A tree there had caused some damage to a neighbor's fence in the past.
•Informed Randy Brotherton he would need to speak with the Board of Zoning Appeals about his plans to build a hog trailer washing facility on his property on county road 400 North, west of U.S. 27.
His original request to Jay/Portland Building and Planning was denied since the planned facility was not specified by any available zoning definitions.
The commissioners told him to bring an outline of his plans to the board to explain the operation would be for his personal use only and would not be a commercial facility.[[In-content Ad]]
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