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Harriman closes out old retirement fund

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By Cindy Simpson

Harriman officials are ready to close out a retirement plan for a very few hospital employees.

Harriman City Council approved hiring a consultant to  begin the process of dispensing the retirement funds and closing out the account at its Jan. 18 special-called meeting that was postponed the previous week because of snow and ice.

“There was a really old retirement plan they had in place before Tennessee Consolidated,” said Treasurer Charles Kerley.

“About three years ago council voted to close it out and pay out the money in the plan to participants.”
Kerley said the holdup was working with the IRS.

When Harriman reached an agreement with Covenant Health to take over and eventually move operations of Roane Medical Center, the city agreed to continue handling the few hospital employees that were part of the plan.