Latest Headlines
- Tate Showband Of The South Has A New Director
- Pine Meadow’s Cassi McGee Received Florida Outstanding Teacher Leadership Award
- Highway 168 Bridge Reopened Friday After Repair Completed
- Bicyclist Critical After Being Struck By Vehicle In Century
- Two Century Correctional Officers Charged With Smuggling Drugs Into The Prison
- More Details Released In Case Of Man Accused Of Killing Estranged Wife
- Florida Forest Service Announces $2 Million For Florida Landowners To Improve Forest Health
- Friends Of The Library Hot Summer Book Sale Going On Through Sunday
- Escambia Animal Shelter Has Free Cat And Dog Adoptions Through July 31
- Martorella’s Clutch Hit Ignites Blue Wahoos Walk-Off Win
Century Changing Employee Retirement Plans
February 6, 2012
The Town of Century is making changes to to their employment retirement plans.
Rather than retirements accounts with the state — which earned about 0.37 percent annual interest last year, accounts are being moved to the private company AXA Equitable. Employees will be able to determine their own individual investment strategy from different investment funds.
That will will results in a “better working and accumulation vehicle for the employees”, according to town accountant Robert Hudson. In addition, the AXA funds will require less administrative paperwork on the town’s part, saving employee time.
Town of Century employees are vested in their retirement accounts on a sliding scale, becoming fully vested after seven years of service.
Comments
2 Responses to “Century Changing Employee Retirement Plans”
I receive retirement from Florida Retirement System (FRS). My money is quite healthy and I receive an increase each year, a stipend to help off-set the cost of health insurance. And they pay on the last day of each month. Like clock work. No waiting until the 1st, like most. Just nice to get it a little earlier than most.
The employees may want to check the fees that they will be paying on most accounts.