To provide for the long term financial security of County employees in retirement, the County provides a defined benefit retirement plan under the 1937 County Retirement Act which is a contributory plan. Full Time employees and part time employees who work a minimum of 3/4 time are enrolled in the plan. Plan benefits are based on age at enrollment, years of service and final salary at time of retirement. The County plan is a reciprocal plan with PERS.
For more information about Retirement, visit the Marin County Employees Retirement Association MCERA website.
All regular employees may contribute to the Marin County 457(b) Deferred Compensation Plan. Contributions are entirely voluntary. There are no matching contributions made by the County. Many different investment options available. Annual contributions are limited to the maximum amount allowed by IRS Regulations and are currently 100% of includible compensation up to a maximum of $18,000. Participants who are age 50+ may contribute up to a maximum of $24,000. Employees who turn age 47 in 2015 may qualify to use the Special 3-Year Catch-Up Provision which allows them to set aside a maximum of $36,000.
The Deferred Compensation Plan Provider is Nationwide Retirement Solutions. Jim Laffoon is the Senior Retirement Specialist assigned to the County of Marin. He can be reached at (415) 473-3140 or firstname.lastname@example.org.