Additional NEW Retirement Savings Option Now Available!

Retirement Planning

Now that we’ve rolled out our new ACPS 403b plan with Lincoln Financial, we’re excited to tell you about another new retirement savings option available to all ACPS employees: the Commonwealth of Virginia 457 Deferred Compensation Plan! Not to be confused with the Nationwide 457b plan, this plan features a curated group of investment options selected with both performance and fees/expenses in mind, along with a Roth (after-tax) option. It also has a low annual administrative fee that covers both the “COV 457” and Hybrid Plan voluntary member contribution accounts. Check out what the COV 457 plan has to offer!

Learn more: Our MissionSquare Retirement Specialist, Steven McGregor, is offering individual appointments on Tuesday, April 4, as well as a seminar providing an overview of the COV 457 plan from 4:15 to 5 p.m. Click here to register for one of these virtual learning opportunities.

Good to know: ACPS employees can participate in both the 403b and the 457 plans. The contribution limits are NOT combined; you can contribute the maximum annual contribution to each plan.

VRS Hybrid Plan members: Don’t leave employer-matching contributions on the table! Be sure to contribute the maximum 4% voluntary contribution to the plan before taking advantage of additional retirement savings opportunities. Learn more on the VRS Voluntary Contributions web page.