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Defined Contribution Plan Benefits and Committee
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The Town offers employees a variety of Defined Contribution Retirement Plan Options. These plan investments selected by employees are managed by MissionSquare, and employees participate in 401(a), 457, and other plan offerings. Mission Square, the plan provider, and other attributes of the plan including investment policies are overseen by the Defined Contribution Plan committee. The Employee Retirement Benefit Guide is currently being revised. It provides general information about the Town's pension and defined contribution plans and will be posted when it is complete.
In accordance with Town Resolution and administrative policy governing the Committee, the Town Manager is a fiduciary for the Plan and is responsible for making the final decisions related to the operation of the Plan. The Committee acts in an advisory role and is responsible for making recommendations to assist the Town Manager in exercising his fiduciary duty. In addition to its advisory duties, the Committee has the authority to adopt, implement, and administer a communication and education plan for the members. The Human Resource Director is responsible for the coordinator of the plans.
The committee meets quarterly.
Mission Square (formerly ICMA-RC): www.icmarc.org
1.800.669.7400 (Monday through Friday, 8:30 am to 9:00 pm EST)
Plan Representative: Steven Feigelis, Retirement Plan Specialist
Annual Contribution Limits
View a list of contribution limits for each plan.
View a list of contribution limits for each plan.
Address, Personal Contact, and Beneficiary Information
Keep personal and beneficiary information for your ICMA-RC accounts up to date by contacting ICMA-RC directly at 1.800.669.7400 or by logging into their website.
Keep personal and beneficiary information for your ICMA-RC accounts up to date by contacting ICMA-RC directly at 1.800.669.7400 or by logging into their website.
Login to ICMA-RC's website to access the fee disclosure for each plan in the Investments menu and Plan-Related Information. Once you are logged in, choose View Account from the dropdown box next to the plan (457, RHS, or 401a). Then, click on the Investments menu on the left-hand side of the page and choose Fee Disclosure from the list. There will be two tabs, Plan-Related Information and Investment-Related Information, which can expand for more details.
Committee Meetings & Documents
- Administrative Procedure
- Investment Policy
- Meeting Agendas & Back-up Documents Search and view Committee meeting agendas and documents.
- Resolution No. 31-2020 - Duties of the Committee
