Jefferson County IDA tries to save employee pensions
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WATERTOWN, NY. -- The marketing arm of the Jefferson County Industrial Development Agency has been dissolved. The move comes after IDA leaders reached an agreement to get state employees their state pensions back.
State Comptroller Thomas DiNapoli ruled that employees of sub-agencies like the Job Development Corporation did not work directly under the IDA and would lose their pensions. To get their retirement funds returned, employees needed to be under the umbrella of the IDA.
“We really can’t continue our mission without employees so it’s better that the county designate a new agency to do that, so, since our function is no longer needed we dissolved,” said Lance Evans, JCJDC President.
All marketing decisions will now be made by the Jefferson County IDA board. Once the dissolution plan is final, the agency will have 270 days to clear up their accounts.