Get to know us and your new retirement benefits!
401(a) Defined Contribution Plan
You are automatically enrolled in the plan.
We will withhold a percentage of your pay on a pre-tax basis. This is a mandatory, non-elective contribution. In addition, we will contribute a mandatory nonelective contribution made to the plan on your behalf. The contribution amounts vary by job classification.
For details, refer to the 401(a) plan highlights.
457(b) Deferred Compensation Plan
This is a supplemental voluntary plan that allows you to save for retirement with pre-tax and/or after-tax deductions from your paycheck.
For additional details and enrollment instructions, refer to the 457(b) Plan Highlights.
You may enroll after you receive your first paycheck.
Retiree Health Care Eligibility
Employees will be enrolled in the Retiree Health Savings (RHS) account – Schedule D, with an exception for some rehires. Oakland County contributes to your account with each paycheck you earn.
While you’re employed by Oakland County, your account is in a “dormant” status, which means you cannot spend the funds. You can, however, check your account balance and manage your investment allocations any time through Empower.
Refer to the Retiree Health Care Schedules.
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Thomas May, EMPOWER
Dedicated Retirement Counselor
- Retirement planning
- Preparing a budget
- Updating retirement plan beneficiaries
- Considering how your money is invested
- Maximizing contributions
- Developing an emergency fund
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