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Retirement Savings & Deferred Compensation

Retirement Savings & Deferred Compensation2019-08-23T16:24:57-05:00

Wisconsin Retirement System

The Department of Employee Trust Funds (ETF) administers the Wisconsin Retirement System (WRS) through the City of Fond du Lac as well as most government employers throughout Wisconsin. The WRS is a hybrid defined benefit plan containing elements of both a 401(k) or defined contribution plan and a defined benefit plan. This public pension plan is nearly 100% funded due to fiscal discipline, unique plan design and robust governance. This benefit is an automatic employee and employer contribution into a retirement savings account where it can accrue interest until withdrawn. There are withdrawal stipulations if the retiree is not yet at the required WRS age. More information can be found on the ETF website (www.etf.wi.gov) or through Human Resources.


ICMA-RC 457, IRA, & RHS Plans

ICMA-RC is a non-profit independent financial services corporation that focuses on providing retirement plans for close to a million public sector participant accounts and approximately 9,000 retirement plans. The City works with ICMA-RC to help employees voluntarily contribute more into a 457 or IRA Plan for retirement savings beyond WRS. All of these contributions would be direct from payroll to assist with the process and can be changed at any time.

457 Deferred Compensation Plan

A 457 Deferred Compensation Plan uses pre-tax contributions to help save for retirement. This plan has taxable withdrawals that  must occur after separation. More information can be found on the ICMA-RC website or through Human Resources.

Roth IRA Plan

A Roth IRA Plan uses after-tax contributions to help save for retirement. This plan has tax-free withdrawals and allows you to withdraw your contributions anytime without penalties. More information can be found on the ICMA-RC website or through Human Resources.

RHS Plan

A Retirement Health Savings Plan is used by the City of Fond du Lac for various purposes. This is not a plan that employees can contribute towards. More information can be found on the ICMA-RC website or through Human Resources.