Dougherty County leaders simplify retirement plan statements - WALB.com, Albany News, Weather, Sports

Dougherty County leaders simplify retirement plan statements

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County Commissioners at Monday's meeting County Commissioners at Monday's meeting
Denver Hooten, Dougherty County Tax Director Denver Hooten, Dougherty County Tax Director
Government Center on Pine Avenue, downtown Albany Government Center on Pine Avenue, downtown Albany
Denver Hooten, Dougherty County Tax Director, addressing commissioner at Monday's meeting Denver Hooten, Dougherty County Tax Director, addressing commissioner at Monday's meeting
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ALBANY, GA (WALB) -

Dougherty County leaders hope to simplify the language used in employee retirement plans, which they said are doing well.

Monday, commissioners unanimously approved $5,000 to prepare statements that help explain what employees should expect once they retire.

They said the county's defined benefits plan has grown over the last few years and outperformed 401-K investment options offered by other companies.

"A lot of companies have gone to 401-Ks, contributory type plans, in which you have to depend on the investments when you retire and at what level they are. With a defined benefit plan such as we have, you know what your retirement payment is going to be," said Denver Hooten, Dougherty County Tax Director.

Hooten said wise investments and planning helped get the county's benefits to where they are. She said the county has seen more than 8% annual growth in the benefits.

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