The Taney County Commission approves of a plan that will allow employees more options come retirement time.
According to a story by Jason Wert of the Branson Tri-Lakes News, the Taney County Commission, at their last public meeting before Christmas, voted to allow county employees to participate in the Rule of 80, sometimes called “80 and out,” a program which will allow employees to retire at a younger retirement age while still collecting their pension from the state.
According to the Missouri State Employees’ Retirement System (MOSERS), Rule of 80 allows some employees to retire before the normal retirement age and receive their retirement benefits without penalty. A similar policy is used for LAGERS, the Local Government Employees Retirement System, which is used by counties for their employees.
Employees who have “vested” before they leave state employment, which for most employees is five years, become eligible for a pension benefit from LAGERS. The individual has to meet a specific retirement age and service requirements to receive monthly pension payments for life.
Several county supervisors and elected officials in favor of the move said allowing the change would enhance their ability to retain employees.
The full story on the new plan can be read on the Branson Tri-Lakes News Website.
(Story by Jason Wert, Branson Tri-Lakes News)
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