The Document Committee will meet on Thursday, March 15th at 10:00 a.m. in Room #361 of the City-County Building. The purpose of this meeting is to discuss the disability definition.
A workshop will be held for the Knox County Retirement & Pension Board Members
to discuss the Uniformed Officers Pension Plan.
| Knox County Retirement & Pension Board UOPP Workshop | |
| When: | Tuesday, February 21st, 2012 4:00 p.m. – 6:00 p.m. |
| Where: | City-County Building 6th Floor, Room #640 |
| Purpose: | To discuss the Uniformed Officers Pension Plan (UOPP) |
Disability Committee Meeting
The Disability Committee will meet on Tuesday, January 17th at 1:00 p.m. in Room #361 of the City-County Building.
Please Note: This meeting is for the purpose of considering the appeal of an application for a disability pension benefit, and personal health information protected by Federal HIPAA rules will be disclosed and discussed. Therefore, at the request of the applicant, this meeting of the Disability Committee will be CLOSED to the public.
Child Supplemental Life Insurance
Once your child turns age 26, they are no longer eligible for Child Supplemental Life Insurance through Knox County Retirement. You will need to update your supplemental life participants as soon as your child turns age 26.
If you are currently carrying more than one child under the age of 26 on the Child Supplemental Life Insurance, your premium will not be affected. If you only carry one child that is no longer eligible for Life Insurance coverage, please contact the Retirement Office at 215-2323 to stop the deduction from your paycheck.
Blackout Period Announcement
Employee Retirement & Asset Accumulation Program
Blackout Period
December 2 at 4:00 p.m. through December 9 at 4:00 p.m.
The Knox County Retirement & Pension Board along with USI Consulting Group, monitors the funds under the Employee Retirement & Asset Accumulation Plan and the Knox County Voluntary 457 Plan. After careful consideration and upon the recommendation of USI Consulting Group, the Board has approved changes to various investment funds. In order for the changes to take place, a “Blackout” period will occur. A Blackout is a period of time when no transactions are allowed against the funds that are being affected. (example: distributions, contributions, and/or fund transfers) Please keep in mind that any funds being replaced will have similar investment objectives.
Notice
These funds changes only apply to employees that are participants of the Asset Accumulation
Plan and the Knox County 457 Plan. Participants in the Defined Benefit Plan or the Uniformed
Officers Pension Plan are not affected by either Blackout.
On December 2nd, if any funds still remain in the current 3 existing funds listed below, they will automatically be transferred to the replacement funds during the blackout period.
The only funds affected by the December 2 - 9 Blackout are:
| Stand Alone Funds | ||
| Current Fund | New Replacement Fund | Blackout Period |
| American Funds Growth Fund of Amer A |
JP Morgan Large Cap Growth A |
December 2, 2011 at 4 p.m. through December 9,2011 at 4 p.m. Any funds still remaining in the current funds will automatically be transferred to the replacement funds. |
| Franklin Balance Sheet Investment A |
JHancock3 Disciplined Value Mid Cap A |
|
| AllianceBern IntlGrowth A | Oppenheimer International Growth A |
|
| N/A | Delaware Small Cap Value A | |
Voluntary 457 Plans
| Limit Year | 2012 Limit Amount | AGE 50 or Older | Age 62, 63, 64 |
| 2012 Annual Limit | $17,000 | $17,000 | $17,000 |
| Catch Up | $0 | $5,500 | $17,000 |
| Total Eligible 2012 457(b) Contributions |
$17,000 | $22,500 | $34,000 |
| Years of Service | Employer Matching Contribution | The Employer matching contributions are deposited into your 401(a) retirement plan. |
| Less than 5 years | 0% | |
| 5 to 9 years | Up to 2% | |
| 10 to 14 years | Up to 4% | |
| 15 or more years | Up to 6% |
Sub-Committee Meeting
A Sub-Committee meeting of the Knox County Retirement & Pension Board has been scheduled for Wednesday, December 14th, at 10:00 a.m. in the CCB HR Conference Room #361.
2012 Retiree Open Enrollment period is October 15- November 30
See Retiree Benefits section for more information.
