The Minnesota Deferred Compensation Plan (457 plan) offers you a way to make the most of each dollar you set aside for retirement. Some of the benefits include:
- Matching Dollars. Most Ramsey County employees are eligible for an employer match for their deferred compensation plan. Ramsey County employees who are not represented by a union are eligible for a $20 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.
- Pre-Tax Savings. You don't pay income taxes on your contributions or the earnings they accumulate until you make a withdrawal.
- Many Investment Options. You select the mix of investments that meets your specific needs.
- Low Minimum Contributions. You can contribute as little as $10 per paycheck.
Find out more about the Deferred Compensation plan at their website, or call 1-877-657-5757.
You can also meet with a plan representative at several Ramsey County locations. Click here for the schedule.