When you’re already counting pennies, ever wonder how to find the money to save for retirement? An easy way to increase your financial portfolio is to funnel new pay raises into the City of Plano’s 457 Deferred Compensation Plan.
No doubt you noticed the difference on the October 17 paycheck. Automatically diverting the 3% raise into the 457 Plan, saves money without affecting your lifestyle – or feeling a pinch in your pocket. By putting annual raises in accounts like the 457, you’ll soon be saving the recommended 15 percent of your income specifically for retirement.
If already enrolled in the 457 Deferred Compensation Plan, you can increase your contribution amount in PeopleSoft: Self Service > Benefits > Benefits Information > Savings Summary. Consider learning more about this easy way to supplement your future income through the ICMA-RC 457 plan. Enroll online.