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Article: STATEHOUSE BEAT: ; Promoting 457(b) or Perdue?
- Article from:
- Charleston Gazette
- Article date:
- November 12, 2007
- Author:
CopyrightCopyright 2007 Charleston Gazette. Provided by ProQuest LLC. (Hide copyright information)
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State Treasurer John Perdue's promotional effort to get more
state employees to sign up for the West Virginia Retirement Plus
plan is drawing concern for a number of reasons.
The 457(b) retirement investment plan (the public employee
equivalent of a 401[k]), had been administered by the state
Consolidated Public Retirement Board from its inception in 1992,
until last year when Perdue persuaded the Legislature to move the
program under the treasurer's office.
With the push to increase participation in the plan, featuring
publications distributed to state employees and recent informational
displays in state offices, some are grousing that the plan gives
Perdue another privately funded ...