Plan details specific to the Denison Municipal Utilities 457/401a plans are shown below. Access additional program information from the left menu. Enrollment is year round! Take advantage of this great employee benefit today by contacting MassMutual!
|Eligibility||Contributions||Investment Provider||Payroll deduction changes|
|Employees who work 40+ hours/week or have a fixed annual salary are eligible to participate.
|457 employee contributions: Option to save pretax and post-tax Roth through payroll deduction
457 Limits: $25/month up to IRS annual limits
401a employer match contributions (after 6-month probation period):
- Department managers: Up to $185/month
- All other employees : Up to $100/month
Catch-up contributions: The 3-Year Catch-Up benefit allows qualified participants to contribute over the Age 50+ limit. To find out if you qualify, request a 3-year catch-up worksheet.
|Your plan's provider offers attractive investment options and services and assists employees with enrollment and account reviews. A list of fund options by investment category is available in the RIC At-A-Glance PDF. Provider information / 800-743-5274
||You may request a change to your existing payroll deduction amount at any time by completing Denison Municipal Utilities RIC Account Form PDF and forwarding it to your payroll office.|