For a brighter financial future, help your employees
Think About Tomorrow Today
Whether it's flexibility, variety, or simplicity, there's a long list of great reasons to participate in the MERS 457 Supplemental Retirement Program.
The MERS 457 Program is a supplemental retirement program especially for employees of counties, cities, townships, and other municipalities — people just like you — and a great way to help you prepare for life after the workplace.
Experts estimate that you'll need as much as 80% of your working income to continue your standard of living in retirement. MERS 457 is a way to prepare for your future conveniently through payroll deductions, pre-tax or with the Roth option (after-tax).
The MERS 457 Program is an employer-sponsored deferred compensation program, meaning with the pre-tax option, taxes on the contributions are deferred until they are withdrawn.
MERS 457 offers individuals a self-directed account in which they choose a portion of their salary to be contributed. They decide the level of contributions and how to invest the assets. After leaving employment, the benefit is based on the total amount of money in the account. Roth savings are available at retirement age.
There are at least 457 great reasons to participate in the MERS Supplemental Retirement Program. What's Yours?
New Automation Features
- Online Loan Request Submission
- For municipalities that allow for loans, employers can elect to allow employees to submit loan requests through their myMERS account.
- Online Enrollment
- For municipalities who have adopted the MERS 457 Program, employers can elect to allow employees to submit enrollment forms online through their myMERS account.
- Online Employee Contribution Rate Changes
- For municipalities who have adopted the MERS 457 Program, employers can elect to allow employees to request changes to their 457 contributions online through their myMERS account.
Wage and Contribution Reporting Updates, click here to learn more.
Attention Employers! MERS has implemented a new process to assist you with providing MERS benefit information to your new hires. Click here for more information.