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Deferred Compensation Plan


Ramsey County's 457(b) Deferred Compensation Plan offers you a way to make the most of each dollar you set aside for retirement.  There are two contribution options available, a traditional pre-tax or an after-tax Roth option.  Some of the benefits include:

Matching Dollars.  Most Ramsey County employees are eligible for an employer match.  Matching dollars are only available if you participate in the pre-tax plan.  Ramsey County employees who are not represented by a union are eligible for a $25 per month employer match.  If you are covered by a union, check your bargaining agreement to see what the employer match is for your group.

To get the full match available you must elect to contribute, at a minimum, the amount of the full monthly match on each pay check.  For example, if you elect to contribute $25 per pay period then you will pay $12.50 and the County will pay $12.50 per pay period.  If there are three pay periods in a month, you will contribute the full amount of your election for that third pay period.

Tax Savings.  Under the traditional pre-tax plan you don't pay income taxes on your contributions or the earnings they accumulate until you make a withdrawal.  Under the Roth plan you pay taxes on your contributions but the money and the earnings are tax free upon withdrawal after meeting certain conditions after five years.

Many Investment Options.  You select the mix of investments that meets your specific needs.

Find out more about the Deferred Compensation plan at their website, or call 1-800-657-5757.

You can also meet with a plan representative at several Ramsey County locations.  Click here for the schedule.