Agenda Item
Meeting Date: 10/21/2019 - 6:30 PM
Category: CONSENT ACTION ITEMS
Type: Action
Subject: Approval of an Employee Option for Roth 403b/Omni
Strategic Plans:
Enclosure:
File Attachment:
Summary: Currently the District has an agreement with Omni to facilitate its 403(b) Retirement Plan. District staff have expressed an interest in having the option for a Roth 403(b) option within this plan. The availability of such an option would allow current employees to roll over prior Roth plan amounts into the District plan in addition to making routine contributions through payroll deductions.
Funding: There is no additional cost to the District.
Approved in original budget or revised budget
Funds currently available in specified line item
If not currently available in line item, where are funds available
Resolution: WHEREAS, the District has a current 403(b) plan managed through Omni; and

WHEREAS, the current plan does not allow for post-tax Roth 403(b) contributions;

NOW THEREFORE BE IT RESOLVED, that District authorizes the addition of a Roth 403(b) option within its current 403(b) Retirement Plan Document.
Approvals:
Recommended By:
Signed By:
Nathan Fretz - Director
Signed By:
Jennifer E. Gill - Superintendent
Vote Results:

Original Motion
Member Scott McFarland Moved, Member Micah Miller seconded to approve the Original motion 'WHEREAS, the District has a current 403(b) plan managed through Omni; and

WHEREAS, the current plan does not allow for post-tax Roth 403(b) contributions;

NOW THEREFORE BE IT RESOLVED, that District authorizes the addition of a Roth 403(b) option within its current 403(b) Retirement Plan Document.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0.
The motion Carried 7 - 0
   
Judith Johnson     Yes
Scott McFarland     Yes
Michael Zimmers     Yes
Anthony Mares     Yes
William Ringer     Yes
Micah Miller     Yes
Tiffany Mathis     Yes