Sunday, May. 24, 2015    Login | Register           

Pension payment approved by Coweta commissioners

It was that time of the year to ante up the contribution for the defined benefits pension plan for county employees. Coweta County commissioners last week approved budgeted funds of $2.2 million.

Commissioners voted to approve the $2,245,878 annual lump sum contribution that covers a total of 387 participants.

The plan calls for participants to contribute 2.75 percent of salary to the plan which is matched by the county. This provides one-fourth of the benefit cost for the plan’s 15-year projected obligation.

The county’s match breaks down to a range of approximately $18,700 per month.

County staff noted that the county’s annual lump sum contribution is a budgeted item.

Topic: 
Location: 

Ad space area 4 internal

Sponsored Content

Opinion

The problem: Cousin Alex and Cousin Ryan wanted to make snow cones, but their 3-year-old electric snow cone machine broke just after it was loaded with ice cubes.

Community

Sports

The Starr's Mill Panthers boys golf team finished fourth in Monday's AAAAA state tournament. The McIntosh Chiefs finished eighth as a team. Cambridge won the team title with a +6 (290).

Lifestyle

Author Reem Faruqi said his newest release, a children’s book titled “Lailah’s Lunchbox,” is about a young Muslim child named Lailah who moves from the Middle East all the way to Peachtree City.