457(b) Unseen/Hardship Withdrawal Notice (12/17/2018)
Effective Jan. 1, 2019, the Employee Benefits Team will begin processing the unforeseen/hardship withdrawal transactions. If you are experiencing an unforeseen financial situation and believe you may qualify for an unforeseen/hardship withdrawal, work directly with the Employee Benefits office to complete the transaction. Please contact the EBO office at: 916-874-7061 to assist you in determining if your circumstances meet one of the IRS regulations necessary to complete unforeseen/hardship withdrawal. View the 457(b) Unforeseen/Hardship Withdrawal Transactions document for more information.
457(b) Maximum Contributions for 2019 (11/13/2018)
The IRS has increased the 457(b) maximum contributions for 2019. Participants under 50 may now contribute up to $19,000 ($730.77 per pay period) and for participants 50 or older, an additional $6,000 or $25,000 ($961.54 per pay period) is permitted. While some of us may not be able to contribute at those levels, we encourage all employees to contribute at a level that will meet their needs in retirement while balancing their current financial obligations. For those that would like to increase their contributions, please contact Fidelity at: 800-343-0860 or http://netbenefits.com/saccounty Changes made prior to the 18th of any month will be included in the first check of the following month. If you have any additional questions, please call the County's Deferred Compensation office at: 916-874-4695.
Dedicated Fidelity Retirement Planner (1/1/2018)