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Electric Department Stays with Current Retirement Plan

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HUNTINGDON (April 29) — Carroll County Electric Department employees will remain with the company’s current retirement system. A survey of the employees indicates a majority preferred the current plan instead of the proposed Tennessee Consolidated Retirement System.
During a meeting of the Board of Directors on April 29, Ryan Drewry, office manager, presented the results of a survey of employees which indicated 100 percent of the respondents indicated they would not want to switch to the state’s defined benefit plan if they had to contribute five percent of their income toward retirement.
Presently, the department contributes an amount equal to approximately 12 percent of eligible employees’ pay toward their individual retirement. The employees do not have to match and the employees choose what investments are selected.
One hundred percent of the employees indicated they were satisfied with the current plan.
For months, the Board considered switching to the TCRS and when the final costs to join were presented, the employees chose to remain with the current plan.
Terry Howell, chairman, asked for a motion from board members to concur with the result of the employees’ survey. The motion was approved unanimously.

In other business, the board purchased two Ford F-150 4x4 pickups from Pepper’s Ford in McKenzie at a price of $26,514 each. That was less than the state’s standing bid price that any Tennessee governmental entity can use.
The board approved a $100 contribution to the Carroll County Chamber of Commerce’s annual golf tournament.
Danny Brawner, general manager, announced the office reopens to the public on Monday, May 3 after being closed to the public for approximately one year.
Brawner said TEC, which is a private broadband provider, is nearing completion of its fiber optic lines to serve portions of the West Carroll area and in the Buena Vista area. TEC will interconnect with CCED’s fiber through a lease agreement.
Drewry announced the new mobile app is now ready to use. Customers can monitor their usage of electricity, pay their bills, and receive alerts.
The next meeting of the Board is May 27, 2:30 p.m. at the Carroll County Chamber of Commerce.