Public-sector employees often face a complex retirement landscape, with some participating in defined benefit pension plans, others in “hybrid” 401(a) plans, and many in supplemental defined contribution (DC) plans like the 457(b), according to the National Association of Government Defined Contribution Administrators (NAGDCA).
Governmental retirement plans “often face complexities in local law enabling requirement, payroll systems and administration that most private sector employers do not," said NAGDCA president Matt Petersen. That’s why the NAGDCA’s new “Guide to Governmental Defined Contribution Plans” should provide useful information to public sector employers.
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