Happy August, Arlington! We’re bringing you some BIG news from Arlington’s recent BMA pow-wow. The highlight? Arlington is stepping up their retirement game.

🚀 The News: Arlington’s board gave a green light (unanimously, might we add) to let EVERY Arlington town employee hop on board the Tennessee Consolidated Retirement System (TCRS).

🧐 Why You Care: If you’re all, “TC-whaat?”, let’s break it down. TCRS is basically in the retirement hall of fame - ranking in the top 3 funded pension systems across the US. Translation? A secured, cushy retirement for our peeps.

Why the Shift?

1. Finding and keeping top-notch employees.
2. Giving more (and better) benefits.
3. Iron-clad retirement plans.

Wallets Safe: Before you start checking your tax bill, know that this doesn’t mean more $$ out of your pocket. This move’s basically like swapping out an old sweater for a new one, without the shopping spree price tag.

🎉 Bonus: Arlington is dipping into their savings for an initial COLA buy-in. Not the drink – it means Cost of Living Adjustments to make sure our crew’s retirement keeps up with inflation. And nope, Arlington didn’t HAVE to do this, but they’re all in.

Options on the Table: For Arlington OG employees:

1. Rewind the clock and buy back those service years from their 457 plans.
2. Start with a clean slate (year one vibes) without buying back time.
3. Stick with the status quo in our current 457 plan.

Newbies? You’re riding the TCRS train from day one, with the 457 as a portfolio sidekick.

The End Game: The goal’s clear – level up Arlington by ensuring our team is top-tier. By boosting our benefits and keeping those paychecks competitive, we’re banking on a win-win for everyone. Hats off to the cheer squad supporting this move. Until next time, stay awesome Arlington! 👋🎉

Original post by Mayor Mike Wissman