401(k) Option refers to the Tier 2 Defined Contribution Plan. This is a retirement option for the Tier 2 Public Employees Contributory Retirement System and the Tier 2 Public Safety and Firefighter Contributory Retirement System.
With this option, your employer contributes a portion of your salary into a 401(k), which is a retirement savings plan. The money you get in retirement is based on employer contributions, investment performance, and how you withdraw your money. This calculator helps you estimate your benefit.
This brochure gives a brief overview of the 401(k) Option
» 401(k) Option Basics: Public Employees
» 401(k) Option Basics: Public Safety and Firefighter
The Highlights brochure provides detailed terms and conditions about your benefit
» Tier 2 Public Employees Highlights Brochure
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