Social Security Plan

457 Contributions for AFSCME Employees

Since July 1, 1995, the City of Memphis has funded a deferred compensation plan for City employees who are not eligible for the City’s pension plan due to social security coverage. Under the Social Security Plan, the City contributes the difference between its contribution to the regular plan and its contribution to social security based on the employee’s salary at a rate of 2.35% of the employee’s salary.

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