3911 family. In response to so many that have reached out inquiring about what's going, I just wanted to take a moment to give an update on the pursuit of a 25-year retirement. At this time, O19-116 has been sent to the Pension Board. Set to happen will be an introduction of the ordinance to the Board. The Board will not be taking any action on this without have an actuarial study done. It's my understanding that under the DOL rules, the Plan Sponsor (New Castle County) would be responsible for the cost. Also under the rules, they have 90 days to submit back to the Board the findings. Should that happen in a timely manner, then it will be up to the Board to review and make a recommendation as to whether or not they approve. Depending on that decision will decide the next step. At this time, I don't want to get too far ahead. What does this mean for attendance at the Pension Board meeting this Wednesday? This means, other than attending the meeting to see what's happening with your money, there is no real need to show up in force. If you choose to attend the meeting, it's this Wednesday, December 18th @ 0815 in the Manager's Conference room located at the top of the stairs outside the cafe at the Government Center. If anyone has any questions, feel free to contact me.
