The County anticipates that its matching contribution for County employees who are represented by SEIU 721 and who contribute to the Horizons Plan will be temporarily reduced, from May 30 through July 15.
Why?
There is a $112 million maximum total amount, or “cap” on matching contributions that the County can make each year. For the 2012-2013 fiscal year, the County anticipates the cap will be reached in May, so a match reduction must take place.
But don’t worry: full match will resume with your July 30 paycheck.
Your Horizons account can play a vital role in achieving a comfortable retirement. That’s why it is a good idea to understand how the Plan can work for you and help you achieve your retirement income goals.
To learn more, check out the Horizons Newsletter.