Macon-Bibb merger group discusses pension plans | Politics | Macon.com

The task force that’s working on merging Macon and Bibb County governments is considering a choice between two pension plans for employees of the consolidated government: one defined-benefit plan, similar to what Bibb County already offers; and one hybrid between a defined-benefit and a defined-contribution plan.

Consultants from pension-expert firm Cavanaugh Macdonald presented five tentative plans, heavily weighted toward continuing the defined-benefit style systems that the city and county currently offer, to the task force’s Human Resources Committee on Thursday.

Committee Chairwoman Miriam Paris said the variety of choices could be debated for months.

“At this point it seems like the possibilities are endless,” she said. But task force members don’t have months to spend on it, since the consolidated government will need to set up a pension system before it can hire new employees, Paris said.

via Macon-Bibb merger group discusses pension plans | Politics | Macon.com.