The Markets January 13, 2010

Iowa School District Succumbs to Staff Pressure to Keep 403(b)

WACO Community Schools of Wayland, Iowa, will continue offering the state’s 403(b) retirement plan to employees, after staff spoke out against its elimination.
Reported by

The Mt. Pleasant News reported that the plan was set to end at the end of this school year. Board member Todd Meyer told the newspaper that a group of school staff appeared before the board in a special meeting last week to argue their case for leaving the retirement plan in place.

As a concession, those enrolled in the program agreed to pay the administrative costs for it, which Meyer said was the point that made him vote to keep the plan, according to the news report.

«