|Total Contribution||Employee Contribution||Employer Contribution|
|12% of Base Pay||6% of Base Pay||6% of Base Pay|
This is a graduated schedule for vesting employer contributions (earn vesting at 20% per year). An employee must work at least 1,000 hours in a calendar year for the time to count towards vesting. Note: This plan is a mandatory contribution for part-time benefitted employees.
Voluntary Retirement Plans – Administered by Empower Retirement
The City and County encourages additional savings for retirement through a deferred compensation plan defined by section 457(b) of the Internal Revenue Code and by a Roth IRA - both of these plans are administered by Empower Retirement.