The Duluth City Council agreed Monday to a review of the city’s defined-contribution retirement plans for city employees. In January, the council learned increased fees in the city’s retirement plans administered through the Georgia Municipal Association would have a significant negative impact on a large majority of employees.
Duluth has determined that some small reduction in the increased fees is possible through GMA, but specific details will not be finalized for several months. In the mean time, Duluth has met with Georgia Wealth Partners to discuss options for a new retirement plan, after coming highly recommended by Suwanee. At no cost to the Duluth, Georgia Wealth Partners will evaluate all proposals received and assist Duluth in recommending a plan provider.
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