This is yet ANOTHER sign of their financial woes at PRMC. Are you listening Steve Hammond?
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Sunday, December 08, 2013
PRMC Removes 403 (b) Plan From Employees
This is yet ANOTHER sign of their financial woes at PRMC. Are you listening Steve Hammond?
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11 comments:
They gotta fund Peggy and Alan's retirements somehow.
There is much to take issue with regarding PRMC's upper managers, their management style and Board oversight.
That said, the headline and the content of this article are inaccurate and misleading. A correction should be added.
The 403(b) plan continues and employees may continue to use it; the very modest employer match is being discontinued for the present; it can be re-instated later under more favorable circumstances if they choose.
A 403(b) is the mirror image equivalent of a 401(k) except it is for non-profit organizations.
It would have been nice to hear that big-wig bonuses and perks were curtailed, reduced or on hold in conjunction with this move, but that might be wishing for too much.
To the extent that big-wigs participate in the 403(b), they are taking the same hit from the elimination of the match; just from a more comfortable pay level.
This is what happens when you want higher and higher salaries. Soon your replaced with cheaper workers. What's hard to understand about that.
Steve Hammond and everyone at Wboc, Wmdt and the Daily Times only report "feel good" news as it applies to government and big business. If they were our only news source, we would all believe everything is perfect and we're all having a jolly big time. These media outlets are not reporting the news, they are obscuring the news by only reporting information after they have edited it to suit their needs. When relying on any of them for your news, you can be sure that you're only getting a fraction of the real story. If these media outlets were measured by their accuracy in reporting, they would all certainly receive failing grades. They're horrible...no integrity at all.
Welcome to the real world! Check out some of the salaries people were making there!
How about Wicomico County matching up to 20% of their employees contributions?!
They also took the little 20.00 gift card for grocerys we would get at Christmas time. Guess Peggy and her Merry VPs need it more.
Joe, yes Steve Hammond is listening cause he sure doesn't go out and get his own stories - he reads your blog to get all the news then tells it like he wants to.
It is not guaranteed and it is up to 20 percent of their contribution....NOT their salary. big difference. If an employee is able to afford to contribute 1000 dollars a year, the county will put in 200.
Not the Wicomico Board of Ed employees! They stopped that 2 years ago.
CLOSE PRMC and make it SECTION 8 Housing for illegals...
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