Are You Ready for Hybrid Auto-Escalation?
Don't worry — we've got you covered.
What you need to know
Auto-escalation helps your members save more for retirement by slightly increasing the amount they contribute from each paycheck toward their retirement savings in the Hybrid 457 Plan. These changes affect members with a hire date on or before September 1, 2016, who are reported to VRS prior to close of business on September 15, 2016.
Resources to educate your members
New member flyer: "Auto-Escalation — What It Means for You"
Share this flyer with your members to explain the benefits of auto-escalation.
- Email the PDF to your members.
- Post it in high-traffic spots such as break rooms.
- Provide a copy during events and meetings.
Website for employers administering the hybrid plan.
Visit the Voluntary Contributions page for the latest updates and education tools to share with your members, including the new "Be a Savings Superhero" video and your Voluntary Contributions Toolkit.
Members will receive a postcard in early October to explain their options, including how to opt out of auto-escalation. Visit Resource Center for VRS Employers for more information.
Your ICMA-RC Education Team
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