Mesa County to cut its employees’ retirement benefits next year

Mesa County will cut its employees’ retirement benefits next year, a move attributable to a recession that has sapped the county of millions of dollars in revenue.

Under the old retirement plan, workers with fewer than five years of service were required to contribute 5 percent of their gross pay to a retirement account and received a 5 percent match. Workers with more than five years of service had to contribute 6 percent of their pay and received a 6 percent match. Workers employed with the county for more than 10 years were eligible for an additional 1 percent county match that went into a deferred compensation plan.

Under the new plan, which takes effect Jan. 1, all employees will have to contribute 3 percent of their pay to a retirement account.

The county will offer a 3 percent match. With the deferred compensation plan, the county will match up to a 1 percent contribution from employees with fewer than five years of service, up to 2 percent from employees with six to 10 years of service and up to 3 percent from employees with more than 10 years of service.

“We’re trying to give our employees the flexibility to take home a little more cash right now while we save some dollars, because we’re getting creamed right now,” County Administrator Jon Peacock said.

The retirement benefit reduction could save the county nearly $800,000 in 2010, he said.


Commenting is not available in this channel entry.

Search More Jobs

734 S. Seventh St.
Grand Junction, CO 81501
Subscribe to print edition
Sign in to your account

© 2015 Grand Junction Media, Inc.
By using this site you agree to the Visitor Agreement and the Privacy Policy