The City of St. Louis offers a Deferred Compensation 457 Plan that employees can participate in to help save for their future.
A governmental 457(b) deferred compensation plan (457 plan) is a retirement savings plan that allows eligible employees to supplement any existing retirement and pension benefits by saving and investing before-tax dollars through a voluntary salary contribution. Contributions and any earnings on contributions are tax-deferred until money is withdrawn. Distributions are subject to ordinary income tax.
The City offers this benefit through Empower Retirement. Learn more about retirement planning.
The plan is purely voluntary. Contributions are made to the plan through bi-weekly payroll deductions.
The minimum amount that an employee can contribute to the plan is $12.50 per pay period.
If you are interested in enrolling in the 457 Plan, contact The City of St. Louis account representative at Empower Retirement:
Crystal Thompson - 314-241-1334 Ext. 113