The Winnetka Park Board approved a plan that would contribute a match of $25 per paycheck at a maximum $650 a year per employee to a 457 retirement plan. Human Resources Director Beth Dostert said …
The Winnetka Park Board approved a plan during its Feb. 22 meeting that would contribute a match of $25 per paycheck up to $650 a year into each employee’s retirement fund.
“As much as I educate staff on the importance of retirement savings and contributing to a 457 plan, it’s hard for some people to come up with extra,” Dostert said. “I know many staff have mentioned that if there was a $25 match, they would contribute.” Commissioners Colleen Root and Cynthia Rapp opposed the idea with Rapp saying the Park District giving retirement advice could become a slippery slope. Root, who wasn’t in attendance for the Feb. 22 meeting, said in her comments read by Board President Christina Codo that no other Illinois park district matches retirement contributions.
“Employees have to put their money down too and have skin in the game,” Codo said. “We have had substantial turnover among senior staff and I think anything that makes it stickier … it’s a great investment.”
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