Ready to retire


You have spent years working and saving towards your retirement and now the time has come. There still may be some planning that needs to be done. The transition to retirement can be scary, but with the right preparation, you will have the confidence to enjoy your next chapter in life.

Consolidate Your Portfolio for Retirement

If you have other retirement savings plans, consolidating your funds is a great way to maximize the compounding power that a larger balance can yield. You are permitted to roll over eligible pretax contributions from another 401(a), 401(k), 403(b), or governmental 457(b) retirement plan account, or eligible pretax contributions from individual retirement accounts (IRAs). Rollovers from Roth and after-tax sources are not allowed. Our dedicated Fidelity Financial Workplace Consultant, Tia Scott, is available to assist you with rollovers into the County plans. You can schedule a complimentary appointment with Tia by using the Fidelity scheduling system or by calling 800/343-0860.

Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets. Review “How to Roll Over a 401(k)” before you make your final decision. 

Special Catch-Up for the 457 Plan

If you are within three years of the year in which you plan to retire, you may be eligible to take advantage of a special catch-up contribution provision. You may be eligible to contribute an additional amount over the regular deferral limit in effect for the year (up to double the regular limit), to make up for years in which you did not contribute to maximum amount you were eligible to contribute under the 457(b) deferred compensation plan. 

Participants are not permitted to use both the age 50+ catch-up and the special three-year catch-up in the same year.