- Current eligibility in the 401(a) Match Plan:
- Unrepresented Management Unit (50)
- Represented Management Unit (032 & 033)
- Attorney Units (020 & 021)
- Probation Supervisory Unit (024)
- Elected Officials
No enrollment is necessary to receive the County’s 401(a) match. The Eligible Employee (Employee) must contribute a minimum of 1% of their gross pay into the 457(b) Plan to receive the 1% County match in the 401(a) Plan. The Employee’s 1% is based on the annual gross pay and the annual 457(b) Plan contribution per pay period. Participants should, however, make investment elections and designate a beneficiary.
In determining the 1% gross pay the Employee must consider special cash out options that do not happen on a bi-weekly basis such as vacation buy back, cashing out CTO, HIL, etc…..
If the Employee does not meet the 1% annual contribution in the 457(b) Plan when there are special cash out options, the Employee will not receive the 1% 401(a) match and it may affect the match for the rest of the current year.
Investment options are generally the same as the 457(b) Plan with a BrokerageLink option. There are no hardship withdraws in the 401(a) Plan.
The Employee must contact Fidelity at 800-343-0860 or www.netbenefits.com/saccounty
to allocate their investments in the 401(a) County match Plan. If the Employee does not allocate their investment, their contributions will be allocated into an age based investment mix called the Freedom Funds.
The Employee’s County’s 401(a) Plan match will stop when they are transferred out of the eligible Rep Unit.
There will be one Quarterly Statement that will include the 457(b) and 401(a) Plan balances.
700 H Street, Suite 4650, Sacramento, CA 95814
Phone: (916) 874-2020 Fax (916) 874-8419
Hours of Operation: Monday-Friday 8:00 a.m. to 5:00 p.m.