Retirement plans. Eligible employees can elect to contribute to a defined benefit 457(b) plan up to the federally authorized legal contribution limit per calendar year. The City will match the employee’s 457(b) plan contribution on a percent by percent basis www.oneamerica.com.
In addition to the defined contribution plan above, the City of Union City has adopted an employee retirement plan that will provide monthly benefits for eligible, retired employees. The retirement plan is designed to supplement the employee’s Social Security benefits and their personal savings (including the City’s defined contribution plans) by providing additional income at retirement. Union City pays the entire cost for this employee retirement plan.