* Adding Target Date Funds (TDF) and Advisory Services - 24% of city employees who are enrolled in the enhanced program now use TDFs or
* Offering a Roth 457(b) option - Roth lets participants contribute to their plan on an after-tax basis. This provides them with a possible solution to balance the taxes they may pay on their retirement income.
* Introducing a robust participant website - Participants use the Web for many plan aspects - including education about fund choices, training on tools and access to the
* Reducing the administrative fees participants pay by more than
In accepting the award, Mayor Brede said, among the many benefits city employees now receive is on-site education with easy-to-understand materials in a timely manner with individual support.
He added, "USCM's fiduciary oversight also ensures our plan's investment options are continually monitored and best practices are followed."
The USCM created its USCM Leadership Award: Leading the Climb to a Bright Financial Future to recognize cities that are implementing important and necessary changes to their retirement programs to achieve more secure retirement outcomes for the nation's municipal employees. The award is presented twice a year to a mayor whose city has shown outstanding excellence through education, due diligence, and participation in the city's supplemental retirement program. Mayor
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