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Benefits January 4, 2011
Beckley Joins WV 457 Plan
January 4, 2011 (PLANSPONSOR.com) - Under a resolution approved by Beckley Mayor Emmett Pugh, city workers are free to join Retirement Plus, the 457 supplemental retirement plan administered by State Treasurer John Perdue.
Reported by Rebecca Moore
The Beckley Register-Herald reports that the plan now has nearly 11,000 enrollees and $98 million in assets. ING is the investment manager for the program.
Beckley’s population is 16,681 and it is the eighth-largest city in West Virginia. “We’re very pleased that a city the size of Beckley has seen fit to offer our 457 plan to its employees,” said Perdue, according to the news report. “West Virginia Retirement Plus has been a huge success since my office undertook administration. We’re pleased that our marketing and simple word of mouth has worked so successfully.”
Forty-four of the 55 counties in West Virginia offer Retirement Plus to their employees. Thirty-two other entities also participate in the 457 offering, including public service districts, health departments and county emergency centers.