Businesses are constantly changing policies, salaries, and benefits in an attempt to compete with other businesses in their area. City government, as a business, does the same thing. Camdenton Mayor John McNabb says they are slowly working to bring their retirement plan to the same level as the surrounding areas.
Mayor McNabb says the current retirement plan was instituted eight years ago and, when it began they had it placed at a 1% factor and 4 years ago they raised it to 1.25%. They are now working to raise it to 1.5% to match the majority of surrounding governments.