Retirement

All regular, full-time employees of Washington County are automatically enrolled in the Employees’ Retirement Plan of Washington County. Membership is a condition of employment, and all eligible employees are required to pay 6% of their salary to the retirement plan through biweekly payroll deduction. The biweekly contribution to the retirement plan is made on a pre-tax basis. Employee contributions accrue interest at 6% on any amount contributed or transferred prior to the plan year, with such interest computed on June 30^th of the Plan Year, compounded annually.

The Employees’ Retirement Plan of Washington County is a defined benefit plan. A defined benefit plan is an employer-sponsored retirement plan where employee benefits are computed using a formula that considers several factors such as length of employment and salary history. The benefit at the time of retirement is guaranteed for the Participant’s lifetime.

Washington County also offers a voluntary 457(b) Deferred Compensation Plan in which employees can make contributions to prepare for retirement.  Contributions to the 457(b) are deducted from your paycheck.  There are three ways to contribute:

• • Traditional pre-tax
  • Roth after-tax
  • Combination of both