Retirement Plan

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457(b) Deferred Compensation Plan

The deferred compensation plan is designed to allow City employees to voluntarily supplement their retirement savings through the deferral of income on a before-tax basis.

401(a) Defined Contribution Plan

The defined contribution plan allows the City to contribute on behalf of their employees and/or match contributions employees make to their deferred compensation accounts.

Pre-Tax Contributions

Employees may contribute through payroll deduction up to one-hundred percent (100%) of eligible compensation to an elective contribution account on a before-tax basis, up to the IRS limit. Contributions must be made in one percent (1%) increments.

City of Winder’s Contributions

The City of Winder’s Basic Contribution (B.C.) – Each pay period the City will automatically contribute an amount equal to three percent (3%) of the employee’s eligible compensation. Even if the employee chooses not to contribute on their own.

City Matching Contributions (M.C.) – If the employee makes a contribution (before-tax) the City will match the contribution dollar for dollar up to the first three percent (3%).

Employee contribution of 3% + Winder’s B.C. of 3% + Winder’s M.C. of 3%

Vesting Schedule

Employee Contribution

Winder’s Basic
Contribution

Winder’s Matching Contribution

100% Vested Immediately: Contributions and earnings will always belong to the employee.

 

100% Vested after 3 years of employment: If the employee terminates employment before completing 3 years of employment, the employee will forfeit the contributions and earnings in this account based on 1/3 per year.

100% Vested Immediately: Contributions and earnings will always belong to the employee.

Both the employee’s and City’s portion.


The Defined Contribution and Deferred Compensation Retirement Plans are offered to ALL Full-Time Employees after they have completed 90 consecutive days of employment.

Employees may want to consult a tax advisor to evaluate any special tax considerations that may apply before any rollover into the City’s plan.