Think About Tomorrow Today
From flexibility to variety and simplicity, there’s a long list of great reasons to participate in the MERS 457 Supplemental Retirement Program.
The MERS 457 Program is a supplemental retirement program especially for employees of counties, cities, townships, and other municipalities — people just like you — and a great way to help you prepare for life after the workplace.
Experts estimate that you’ll need as much as 80% of your working income to continue your standard of living in retirement. MERS 457 is a way to prepare for your future conveniently through payroll deductions, pre-tax or with the Roth option (after-tax).
Action Items
- Update beneficiary information
- Log in to myMERS, select your plan, click Manage Beneficiaries (left)
- Roll funds from outside eligible accounts
- Update personal contact information
- Log in to myMERS, click Edit Profile (left)
- Review investment options
- Log in to myMERS, select your plan
- View account statements
- Log in to myMERS, select your plan, click My Statements (left)
How It Works
The MERS 457 Program is an employer-sponsored deferred compensation program, meaning with the pre-tax option, taxes on the contributions are deferred until they are withdrawn.
MERS 457 Program offers you a self-directed account in which you choose a portion of your salary to be contributed. You decide the level of contributions and how to invest the assets. There is also an available Roth contribution option employers can adopt for employees, which helps you save with post-tax dollars. Click here to learn more about Roth and Pre-Tax (Traditional) contributions.
Your MERS 457 Program benefit is made up of any contributions from you and your employer, and investment interest earned. When you enroll in the program, you select from the streamlined MERS Investment Menu. For more information, please read Understanding the MERS Investment Menu (pdf).
Contributions are deposited into your individual account, and invested under your direction. At retirement, your benefits are based on the total amount of money in your account. This amount is determined by:
- your contributions
- any employer contributions
- market performance, minus fees
You can begin using your account as soon as you leave employment, or you can continue to keep your assets invested.
After leaving employment, your benefit is based on the total amount of money in your account. You can also claim any available Roth savings at retirement age. Additionally, public safety officers (as defined by the IRS) may be eligible to use 457 funds to pay for health insurance premiums. View more information on this topic.
Rollover Funds
Did you know, you may be able to transfer or rollover funds into your MERS account?
Find Forms
Want to change your investments, or your named beneficiary? Find your form.
Start Planning
Do you know how much you’ll need in retirement? Estimate your future costs.
Leaving Your Employer?
Find out when you’ll be able to access your account. Here’s how to start.
Investment Menu
Streamlined MERS 457 Investment Menu.