Voluntary Contributions
Voluntary Contributions
In addition to your mandatory contribution, you may make up to an additional 4% voluntary contribution to the defined contribution component of the Hybrid Retirement Plan each month.
For more information: Hybrid Retirement Plan Handbook 
.
Take Action with Voluntary Contributions
Why Employees Should Be Saving
Why You Should Be Saving
Employer Match - Consider boosting your voluntary contribution amount to 4%. If you save 4%, you’ll receive 2.5% in employer matching contributions.
Tax Savings - Taxes are deferred on both contributions and earnings, allowing you to pay less in taxes now.
| Defined Contribution Component - Contributions Table | |||
|---|---|---|---|
| Employee Mandatory Contributions: Hybrid 401(a) |
Employer Mandatory Contributions: Hybrid 401(a) |
Employee Voluntary Contributions: |
Employer Matching Contributions: Hybrid 401(a) |
| 1.00% | 1.00% | 0.00% | 0.00% |
Note: Members can elect a voluntary contribution between 0.5% and 4%. The maximum employer match is 2.5%
|
0.50% | 0.50% | |
| 1.00% | 1.00% | ||
| 1.50% | 1.25% | ||
| 2.00% | 1.50% | ||
| 2.50% | 1.75% | ||
| 3.00% | 2.00% | ||
| 3.50% | 2.25% | ||
| 4.00% | 2.50% | ||
†Some provisions related to the voluntary contributions and associated employer match may differ for school division employees who have elected to use an employer-sponsored hybrid 403(b). For additional information, contact your human resource office.
Direct Your Employees to Start Saving Now
Start Saving Now
Online - Log in to Account Access, click "Select an Option" next to the Hybrid 457 Deferred Comp Plan, and choose "Change Contributions." Select the percentage of each paycheck you’d like to set aside in voluntary contributions. You can begin saving up to 4% right away.
Phone - Call Participant Services at 877-327-5261; select option 1.
Members can make changes to their voluntary contributions each quarter. The cut-off date for changes to an account is 4 p.m. ET on the 15th of the month prior to the next quarter. (For example, members must request the change by 4 p.m. ET on June 15 in order to be effective in the first payroll of July.) If the 15th is not a business day, the deadline will be 4 p.m. ET on the next business day after the 15th.
Make Saving Easy
Calculate the Impact to Your Paycheck
Encourage Employees to Use the Paycheck Calculator
SmartStep to 4%
Auto-Escalation of Your Voluntary Contributions
To help you maximize your retirement savings, the Hybrid Retirement Plan has an auto-escalation feature. Unless you opt out, your voluntary contribution to the Hybrid 457 Deferred Compensation Plan will automatically increase by 0.5% (through payroll deduction) on a set three-year schedule until reaching the maximum 4%, which provides the highest employer match.
The next automatic escalation takes place January 1, 2026.
How does SmartStep differ from auto-escalation? The SmartStep and auto-escalation features work together to help you save more for your future. By opting into SmartStep, you can choose the amount and the month to automatically increase your contribution annually. No action is required for auto-escalation, which occurs on a set three-year schedule.
