A 401(a) is a Retirement Savings Plan that allows you to set aside pre-tax money for retirement. The Montrose County plan requires employees to contribute 4% of their compensation and matches 4% after 6 months of employment. You have the right to self-direct the investment into several different types of funds. Montrose County’s 401(a) is administered by CRA.
A 457(b) Deferred Compensation Plan is an employer-sponsored retirement plan that allows public employees to defer (postpone) receiving a portion of their current compensation until retirement or separation from service. Montrose County offers 457(b) plans through CRA and AXA.