Employer Update

Hybrid Retirement Plan members may contribute up to 4% of their creditable compensation each month to the defined contribution component of their retirement plan and receive an employer match. They may increase their voluntary contribution elections on a quarterly basis.

The next quarterly deadline is December 15 at 4 p.m.

Encourage employees to maximize retirement savings. It’s quick and easy! They’ll just need to log into Account Access, click View Account for the Hybrid 457 Deferred Compensation Plan, then select Contributions and click on Change My Contribution Amount.

Employees should check out the online paycheck calculator to see how voluntary contributions and other deductions impact their paychecks.

Take time to review your snapshot: Accurate reporting of contributions to the defined contribution component of the hybrid plan is essential each pay period. As a best practice, take time to review your snapshot each month to ensure you are withholding the correct amount from each employee’s paycheck and remitting those contributions to MissionSquare Retirement.