Stark County offers a choice of two 457 Retirement Plans, otherwise known as Deferred Compensation. These plans are designed to supplement your OPERS retirement plan.
Money that has been set aside in a supplemental retirement plan can help make up the difference between what an employee was accustomed to earning as a full-time employee and what that employee will be receiving as a retirement benefit from OPERS.
A 457 Retirement Plan is the public sector equivalent of a 401k in the private sector. All money contributed is deducted from your paycheck before federal and state taxes are calculated. This money grows, tax deferred, until it is withdrawn from the employee’s (retiree’s) account. The employee is free to choose how the money is invested from aggressive options to fixed, guaranteed options.
To learn more about investing into your very own 457 Retirement Plan, please visit the websites of our vendors: