ICMA 457 Retirement Savings Plan

This deferred compensation plan is available to all regular employees who are participating in the local governmental retirement system. Employees may contribute up to $18,000 per year; of annual pay on a pre-tax basis. There is a withdrawal provision for unforeseeable emergencies. The plan also allows a catch-up provision of $5,500 if eligible in previous years, but did not contribute the maximum amount. Investment options include a choice of funds. The Agency will contribute up to 5% of an eligible employee’s gross annual salary into the 457 (the 5% match is in combination with both the 401k and 457). Optional: Tax deferred savings up to $18,000 per year. If you are enrolled in both 401k and the 457 the maximum contribution between all plans will be $36,000. 1-800-669-7400.