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Deferred Compensation Unit

 

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Overview 401(a)

 

 

County 401(a) Match Plan

401(a) Q&A

Current eligibility in the 401(a) Match Plan:

Unrepresented Management Unit (50)

Management Units 20,21

Elected Officials

No enrollment is necessary to receive the County’s 401(a) match. The Eligible Employee (Employee) must contribute a minimum of 1% of their gross pay into the 457(b) Plan to receive the 1% County match in the 401(a) Plan. The Employee’s 1% is based on the annual gross pay and the annual 457(b) Plan contribution per pay period.  Participants should, however, make investment elections and designate a beneficiary.

In determining the 1% gross pay the Employee must consider special cash out options that do not happen on a bi-weekly basis such as vacation buy back, cashing out CTO, HIL, etc…..

If the Employee does not meet the 1% annual contribution in the 457(b) Plan when there are special cash out options, the Employee will not receive the 1% 401(a) match and it may affect the match for the rest of the current year. 

Investment options are generally the same as the 457(b) Plan with BrokerageLink option, excluding the Certificate of Deposit (CD) option.     

The Employee must contact Fidelity at 800-343-0860 or www.Fidelity.com/atwork
to allocate their investments in the 401(a) County match Plan. If the Employee does not allocate their investment, their contributions will be allocated into an age based investment mix called the Freedom Funds. PDF file type

The Employee’s County’s 401(a) Plan match will stop when they are transferred out of the eligible Rep Unit.

There will be one Quarterly Statement that will include the 457(b) and 401(a) Plan balances.

To Contact a Deferred Compensation Technician:

Phone: 916-874-2020
Fax: 916-874-8419
E-mail:
PSDBenefits@saccounty.net

Interoffice Mail Code: 09-6750

 

To Contact Fidelity Investments:

Phone: 800-343-0860
Website:
www.fidelity.com/atwork

 

Inquire about the availability of documents in alternate formats.

 

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