State Treasurer John Perdue’s West Virginia Retirement Plus supplemental retirement plan gained 301 new participants in the second quarter of fiscal year 2017.

Records show the plan picked up more steam in October, November and December 2016, bringing the total number of participants to 16,950.  Total assets stood at $203.4 million as of Sept. 30, 2016.

The participant base has more than tripled and total assets have increased by more than $130 million since Treasurer Perdue’s office took custodianship of the program in July 2006. Nearly 300 political subdivisions, including 108 municipalities, have joined the plan to date.

“As with all of our office programs, I’m always pleased, but not surprised, when one continues to perform well,” the Treasurer said. “The growth of West Virginia Retirement Plus is positive. Our people work hard at engaging public employees of many types and this is the result.”

West Virginia Retirement Plus is a 457 plan under IRS code, which is similar to a 401(k) plan in the private sector. Such 457 plans do not offer consistent matching funds, unlike a 401(k).

Empower Retirement provides recordkeeping and educational resources for participants as the third party administrator of the plan. For more information on West Virginia Retirement Plus, visit www.wv457.com.