457 Plan

Full-time and benefited part-time employees are eligible to enroll in the 457 Deferred Compensation Plan and Roth 457 through payroll deductions. Sworn employees hired after June 20, 2018, will be enrolled in the 457 Plan for an employer contribution of 1.5% of Base Pay.

The Plan is administered by Empower Retirement and Cook Street Consulting provides investment consulting services for this plan.

Deferred Compensation 457 for Part-Time Benefited Employees 

Total Contribution
Employee Contribution
Employer Contribution
12% of Base Pay6% of Base Pay6% 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.  

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Maximum Contribution Amounts

2022 
$20,500
$27,000 (Age 50 catch-up)
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Website Access

The plan is currently administered by Empower Retirement. The 457 Plan number is 95265-03. Click here for instructions on how to access your Empower account online to:

  • View your account balance
  • Update or change your beneficiary information
  • Change your investment elections
  • Change your deferral percentage

You can also contact Empower Retirement for account information by calling 1-800-701-8255.   Or Fran Salazar directly at Frances.Salazar@empower-retirement.com.

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Forms

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.