Oakland County, MI
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Contact Info
Oakland County Retirement
retirement@oakgov.com
Deferred Compensation 457(b) Pre-Tax and Roth After-Tax Plan
The Deferred Compensation 457(b) Pre-Tax and Roth After-Tax Plan offers additional ways for employees to save for retirement.
If an employee elects to participate in the 457(b) Pre-Tax plan, your designated contribution amount will be deducted from your paycheck on a pre-tax basis. Participation in the Roth After-Tax plan means that your contribution amount will be deducted after-taxes. All contributions are invested into the funds of your choosing.
The Deferred Compensation Match Program
Oakland County will match dollar-for-dollar, what you contribute to either your pre-tax or after-tax. Matched contributions are deposited into your 401(a) plan. Please contact Lisa Villella villellal@oakgov.com 248-892-2855 or Karen Skupin skupink@oakgov.com 248-766-4155 if any questions.
Employee Classification | Oakland County 457(B) Plan Match |
---|---|
General | $500 |
AFSCME | $500 |
MAPE | $500 |
MNA | $1,500 |
OCEU/IBEW/IUOE/PIA | $1,500 |
UAW | $1,500 |
COA | $2,500 |
OCSDA |
$2,500 |
Changing Your Contributions
To increase/decrease your contribution amount, or to enroll in the plan using a specific whole dollar amount/percentage, please login to your Empower account at empower.com/oaklandcounty or call Empower at 833-OAK-GOV1 (833-625-4681).
Monitoring Your Funds
To change or view your current funds, please login to your Empower account at empower.com/oaklandcounty or call Empower at 1-833-OAK-GOV1 (833-625-4681).
The 2024 maximum amount employees may contribute to the Deferred Compensation Plan is as follows:
- 2024 Annual Limit: $23,000.
- 2024 Annual Limit for 50 years and older: $30,500.