District board discusses retirement plans for workers

By Marlene J. Bohr
mbohr@steelcountrybee.com
 
Discussion of the future of Social Security and its impact on employees of the Northeast Texas Municipal Water District was discussed by the board of directors at its Nov. 25 meeting. General Manger Walt Sears explained.
“When younger employees get to retirement, there is uncertainty of whether Social Security will be there as a legitimate funding source,” Mr. Sears said. “We will have to consider choices for the younger employees because of this uncertainty.”
The board decided to make no changes in the retirement plan, but one of the things that was discussed was the timing of when workers could anticipate eligibility for both Social Security and the district retirement.
“If you take away one or diminish one, it increases the importance of the other,” Mr. Sears said.
While the board did not make any changes, they are waiting to see what the changes in Social Security might be for younger workers.

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