Participants triple, assets increase under Treasurer Perdue
West Virginia Retirement Plus has tripled its participant base while increasing total assets by $158 million since mid-2006, when State Treasurer John Perdue’s office assumed custody of the program.
West Virginia Retirement Plus is the state’s official 457 supplemental savings plan for public employees. It is similar to a 401-k private sector plan.
The plan as of Sept. 30 counted 17,840 members with $244 million in total assets. More than 300 political subdivisions have joined the plan to date, including a great majority of county commissions and 109 municipalities.
In the first quarter of the 2019 fiscal year ending Sept. 30, the plan gained $6 million in value. West Virginia Retirement Plus also posted net earnings of $8 million for the quarter.
“We did our best to offer a quality savings program to public employees and I think we’ve succeeded,” Treasurer Perdue said. “We of course have benefited from a good stock market but our advisors also are excellent in gently guiding participants on their investment path, depending on their age, needs and other factors. We take care of folks.”
While the program continues to rack up admirable numbers, a late October open house at the Treasurer’s Capitol reception area was also a hit. Several state employees stopped in to indicate they were interested in enrolling or furthering investing.
For more information on West Virginia Retirement Plus go to www.wvtreasury.com and click on “Savings Plans.” Those interested may also call 1-800-422-7498.