Council approves retirement plan

Portland city employees and elected officials will soon be able to participate in a new retirement compensation plan.

At its Monday evening meeting, Portland City Council approved a resolution allowing public employees to invest in the Hoosier Save Today and Retire Tomorrow deferred compensation retirement program.

Council also approved two resolutions related to Americans with Disability Act requirements, remembered late council member Mark Hedges and approved a street closure for the 2017 Tri-State Gas Engine and Tractor Association Show.

Todd Williams, an employee of Empower Retirement, presented a summary to council of the Hoosier S.T.A.R.T. deferred compensation plan. Empower Retirement serves as the plan’s third party administrator.

The program allows elected officials and public employees to invest their money in a retirement fund that more than 50,000 other state and municipal employees are already enrolled in.

Williams explained that the program is cost-free for the city, and allows public employees to invest in a 457 plan that functions similarly to a private sector 401(k) plan, but has no fees or commissions as is common in private sector retirement investment plans. The plan is available for elected officials, and full- and part-time city employees. It won’t be available to seasonal part-time city employees or independent contractors.

“There’s no additional restrictions or limitations on what you can and can’t do with your money, and it’s also very cost effective,” Williams said. “The cost to participate in the program is fixed, it’s not what is typically an asset based fee that gets bigger and bigger the more money you put in it, like an IRA or typical 401(k)s usually are, it’s a fixed cost, the state has contracted that.”

Council approved allowing city employees to participate in the plan, which is already utilized by employees of more than 290 government units in Indiana. The effective start date is set for March 1.

Council also heard a proposal from Mitch Hansel of Fleis-Vandenbrink Engineering on passing two ordinances regarding the Americans with Disabilities Act. The first resolution establishes a complaint process for those in Portland with disabilities who would like ADA compliant improvements to be made on sidewalks, streets or publicly owned city buildings. The complaint process allows the city to identify and respond to specific issues for disabled residents, allowing their needs to be met first regarding ADA compliance in the city.

The second resolution contained assurances for compliance with Title VI, which governs anti-discrimination in relation to the usage of federal funds. The approved resolution is part of compliance requirements for contracts awarded by Indiana Department of Transportation.

Mayor Randy Geesaman honored late council member Mark Hedges, who died on Jan. 9 after a battle with brain cancer. Council held a moment of silence in Hedges’ honor.

Council approved a proposal from new Tri-State Gas Engine and Tractor Association president Chris Engleheart for the closure of Morton Street from Aug. 18 to Aug. 28 for the 52nd annual Tri-State Gas Engine and Tractor Association show. Engleheart told council members Janet Powers, Bill Gibson, Judy Aker, Michele Brewster, Kent McClung and Don Gillespie that the featured tractors for this year’s show will be Oliver tractors, and the featured engines will be Indiana built.

In other business, council:

•Heard from Geesaman that the city’s website, http://www.thecityofportland.net, will be updated to improve Americans with Disability Act compliance. He said the improved website will be more user friendly and include alerts for street closures and water main breaks. Geesaman said more information on the website update will come in February.

•Was informed by Geesaman that Portland’s 2017 budget was approved by Indiana’s Department of Government Finance, and that he was pleased to report that the tax rate would hold at $1.52 per $100 of assessed value, the same as last year. Geesaman attributed the same rate to an increase in assessed valuation within the city limits from businesses and homeowners.

•Discussed the upcoming state of the city address from Geesaman, scheduled for noon Jan. 31 at Jay County Hospital. Geesaman encouraged council members to make reservations as soon as possible.

•Heard that the steering committee from the development of the city’s new revitalization plan will meet at 5:30 p.m. Tuesday in council chambers at Portland Fire Department, 1616 N. Franklin St.

•Discussed flooding that occurred after a period of heavy rain. Powers expressed concern with flooding she had seen on 12th Street, and asked if it was a result of heavy leaf buildup that clogged the street’s drainage system. Also heard from Gibson that flooding on North Street near Haynes Park needs to be on the top of the priority list for the city to address in new wastewater infrastructure projects.