Help members make the most of their contributions!
Here are three steps members can take to save to the annual limit and maximize their employer match.
Get the 2.5% Employer Match First
Make a 4% voluntary contribution to your Hybrid 457 Deferred Compensation Plan and get the full employer match of 2.5%.
Members should maximize their voluntary contribution before contributing to a supplemental savings plan.
- Encourage members to use the Hybrid Paycheck Calculator to visualize the impact of saving on their paychecks.
- It’s good practice for members to Log into Account Access to review and increase their contributions each year.
- If they have questions about their contribution strategy, members should contact their DC Plans Specialist for assistance.
Save to the Annual Limit
Members should consider contributing to a supplemental savings plan. It’s important to note that their total contributions to all plans, including the Hybrid 457 Plan and a supplemental plan, cannot exceed the IRS annual limit.
Employers need to monitor members’ contributions and stop all 457 contributions once the limit is reached.