What is it?
A 457(b) is a long-term retirement plan designed to bridge the gap between what your pension will be in retirement, and what you are making now.
How does it work?
Deductions come out of your paycheck bi-weekly. Those deductions are then invested based on your investment elections.
How can I access the money?
The money is free to you once you separate from MSCO, regardless of age. Before then, the only way to access the money is through a hardship distribution.
How do I get the full match?
A $50 per pay contribution will get the full match. The match is 100% up to $50 per pay. Altogether, this is $1,200 of free money per year just for contributing.
How do I make changes?
Contact an MDCS representative or make changes online at oneamerica.com. You can change deferral amounts, investment elections, and beneficiaries online.
What are the advantages?
The main advantages of a 457(b) plan include its tax advantaged status and the ability to invest for retirement. Contributions can be Pre-tax or Roth.
How do I enroll?
Contact an MDCS representative or go online to enroll at oneamerica.com.
Questions?
Contact information is below. Midwest Deferred Comp advisors offer MCSO employees and their spouses complimentary retirement planning services. Please scan the QR code for more information on this service.
Michael McGee - (317) 201 - 0868 mmcgee@gwnsecurities.com
Amy Haupert - (317) 797 - 2739 ahaupert@gwnsecurities.com
Owen Atkison - (317) 833 - 7881 owena@gwnsecurities.com
OneAmerica - 1 (877) 580 - 7646