Ross Township considers new pension plan

Ross Township is considering switching to a defined contribution pension plan, such as a 401K.

Commissioners Monday authorized Manager Doug Sample to start the process.

The new plan would be for new, nonunion employees, but officials hope to eventually include all township employees if approved by their unions.

“When we brought the different vendors in,…we were pleasantly surprised on the rates,” said Commissioner Jeremy Shaffer.

It will cost $5,000 for a special attorney to draft the language for the ordinance, then will cost approximately $1,000 a year to maintain. It would have to be updated every three to five years, Mr. Sample said.

Author: Sandy TrozzoPublication: Pittsburgh Post-Gazettehttp://www.post-gazette.com/local/north/2015/07/20/Ross-Township-considers-new-pension-plan/stories/201507200147