Grayson County commissioners Tuesday approved hiring a local company to help manage the county’s retirement plan. Commissioners hired Strategic Retirement Partners run locally by Brad Morgan. More than 50 percent of the county’s employees take part in the retirement plan offered them through the county.
GC Judge Bill Magers said even before the county hired Morgan, he was able to find the county a way to save on the fees county employees paid for their retirement benefits. The reduction in fees, Magers said was about 57 percent for those taking part in the county’s retirement system.
In addition to the reduced fees, now that the county has hired Morgan and his team, the company will be able to offer plan participants educational opportunities with regard to their individual retirement plans. Magers said this change should see the plan participants have a wider selection of options when it comes to investments for their retirement accounts.
Grayson County Purchasing Agent Jodi Platt said that she had heard a lot of complaints from county employees about the costumer service provided under the county’s plan with Nationwide. The county’s plan is now valued at over $10 million.
Platt said she was excited to be able to find someone local to help county employees with their retirement needs.
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