Deferred Compensation Plan or Defined Contribution Plan is a plan that allows an employee to set aside a portion or percentage of his or her salary to be paid at a later date, generally tax-deferred, such as plans available under Sections 401, 403, and 457 of the Internal Revenue Code. The Deferred Compensation Board, created by the Mayor & Commission on July 1, 2019, is charged with providing for regulation and governance of defined contribution plans, including but not limited to reviewing and selecting investment options; developing investment policy statements; reviewing fees and ensuring that they are reasonable; communicating with plan providers; and considering the comments and suggestions from plan participants. 

Members of the Deferred Compensation Board include the following voting members:  Commissioner Tim Denson, the Manager, Human Resources Director, Finance Director, two employee representatives elected by vote of the ACCGov employees, and one community representative appointed by the Mayor.  Ex Officio/Nonvoting Members include the Athens-Clarke County Attorney or designee; Benefits and Wellness Administrator; and the Assistant Human Resources Director, who serves as secretary to the board.

Meetings are to be held quarterly at the Satula Avenue Training Room at 3:30 p.m.

The next meeting of Deferred Compensation Board is scheduled for Wednesday, February 19, 2020 at 3:30 p.m. at the Satula Avenue Government Building Training Room.  Meeting dates for 2020 will be established at the first meeting.  To view the agenda click HERE

Announcements:  Congratulations to John Spagna of the Building Inspections Department and Richard Steed of the Tax Assessor’s Office for being elected as employee representatives to the Deferred Compensation Board.