May 18, 2013
After several weeks of delay, the city of Dothan has a new retirement system for its employees.
After tabling a vote two weeks ago to switch the city's current pension over to the Alabama retirement system, Dothan city commissioners voted seven-to-nothing to approve the transfer.
City leaders say the move will offer employees more stability than the current city operated plan, which is financially strapped by an aging workforce.
The switchover is also expected to save taxpayers around $300,000 per year.
The vote comes as state officials warn that they expect a budget shortfall in the hundreds of millions next year, which could affect the retirement system.
