Tennessee lottery officials yesterday introduced the idea of a retirement program for the 38 employees they've hired this year.
Lottery Chief Executive Officer Rebecca Paul asked board members to approve contributing an amount equal to 3% of what employees make the last quarter to a deferred compensation plan. She also asked them for a proposal for a retirement program for the following year.
For comparison, she said, the state of Tennessee contributes 7.29% of employee salaries to a pension program and next year plans to up that to 10%; Metro contributes 9.3%; and the Georgia lottery pays 7.5%.
But lottery board members balked, saying they needed more time to study the proposal that had not yet been vetted by members of the board's Human Resources Committee. The committee and board are expected to take up the measure Monday.
In other news, Paul announced that Will Pinkston, senior vice president for corporate affairs, is leaving the $95,000-a-year job when the lottery launches in early February to return to work in Gov. Phil Bredesen's office.