New Castle News

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December 18, 2013

Retirement board adopts changes

NEW CASTLE — The Lawrence County Retirement Board adopted amendments Tuesday to bring the pension plan into compliance with IRS language and rules.

The amendments are all technical and clarify some language and definitions, according to Lawrence County Controller David Gettings, who is the retirement board secretary.

Gettings said Lawrence is one of 51 Pennsylvania counties that are in the “Hays Group,” a global management consulting firm that oversees their pension plans. He said there was some confusion about what counties are required to do regarding IRS rules.

Gettings said none of the amendments will have a major impact on the county’s pension fund.

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