County Board OKs Pension Account Change

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At its Nov. 3, 2010 meeting, the Washtenaw County board of commissioners gave initial approval to transfer pension funds that have accumulated for commissioners in a Money Purchase Pension Plan (MPPP), moving the funds to a 457 deferred compensation program of their choice before the end of 2010. Commissioners are currently the only county employees who are enrolled in the MPPP – the county pays Prudential $10,000 annually to administer the plan. The board is expected to take a final vote on the proposal at its Nov. 17 meeting.

This brief was filed during the board meeting at the county administration building. A more detailed account of the meeting will follow: [link]