Human Resources Department

All permanent employees working 18.75 or more hours per week are eligible to participate. Plan 100% contributory by the employee. May defer on a pre-tax basis (federal and state) 100% of gross salary less pension pre-tax deductions or $15,500/year (whichever is less). Various options of investments funds available. May increase, decrease or stop contributions at any time. A catch-up provision is available enabling employees to make up for contributions not deferred in previous years. Both the 457 and the Roth IRA plan have an “age 50 catch-up” provision.

Through a tax code provision, plan participants can add a supplemental Roth IRA. After-tax contributions may be made not to exceed $4,000 per year. These after-tax contributions can be withdrawn tax and penalty free. The enrollment process is paperless and may be accessed through the established 457 Plan. To enroll in this plan also known as the Sidecar Roth IRA, use the IRA Wizard at www.icmarc.org/ira

Visit www.icmarc.org for information about ICMA-RC pension products or to register for account access.

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