The Deferred Compensation 457 plan is offered through MissionSquare Retirement. A 457 plan allows you to save and invest money for retirement with tax benefits.

A 457 plan is designed to supplement your retirement income. While a life-time City of Savannah pension payment and/or Social Security may go a long way, you may need additional funds for retirement. Saving to your 457 plans can help you maintain your desired standard of living.

Contact Information

Deferred Compensation / 457 Savings Plan Highlights

• These docuAll new hires are auto enrolled at 1% unless you opt out or change your desired contribution amount.
• The City contributes $20 per month for employees who enroll in an MissionSquare 457 account and actively contribute $5 or more per week. Uniformed Firefighters and Uniformed Police will not receive the employer contribution if enrolled in the General Fire Pension Fund (GFPF) or the Police Officer Annuity Benefit (POAB).
• Your MissionSquare contributions are deducted from your pay and deposited in your 457 account on a pretax basis. Pre-tax contributions will reduce your taxable income for the year. 
• You decide how much to save, subject to the minimum amount of $5 per week which is set by the City,  to the maximum amount of $24,500 for 2026. Additional contributions are allowed for pre-retirement catch-ups (employees over age 50) and subject eligibility, up to $32,500 for 2026.
• You may increase, decrease, or stop your contributions at any time.
• Get to Know Your 457 Plan

Roth IRA Highlights 

• Eligible employees may contribute to Roth IRA by salary deduction through MissionSquare Retirement. 
• Roth IRA contributions are an after-tax deduction. At maturity, invested funds may be spent tax-free. 
• MissionSquare retirement representatives will assist employees who wish to explore Roth IRA option.  
•  Your Payroll Roth IRA

Digital Resources - Get the Most Out of Your Retirement Account

Securely access your account at your convenience, online or on the go. Your account is at your fingertips 24/7 with MissionSquare tech tools and Digital Resources:

Online 

• Enroll online at MissionSquare, Plan Number: 301094
• View and manage your retirement savings account quickly and easily 24/7, with Account Access. Once you’ve signed up, simply log in anytime to stay on top of your retirement savings goals.

On the Go

• Mobile App Access: MissionSquare Mobile App Manage your account right from the palm of your hand with the free mobile app for an iPhone or Android smartphone, or tablet.
• Text Access: MissionSquare Text Allows you to request certain account information and have it sent directly to your mobile phone via text.
• Ask Alexa: Amazon.com: Account Access: Alexa Skills MissionSquare Account Access Skill for Alexa will allow you to link your Amazon device to your MissionSquare Retirement Account to quickly hear your account information.

Resource Center

• Retirement Readiness Tool - Am I On Track calculator provides you with a personalized retirement readiness score and retirement income gap analysis assessment. It helps you see if you're on track for retirement. 
• Advisory Services - Guided Pathways® provides you with a personal retirement roadmap and investment strategy. Wherever you are in your retirement journey, we can help you reach your retirement goals.
• Retirement Education Center - An educational resource  provides tools and information to help community-focused employees save throughout all stages of their career.
• Monthly Savings Tips - RealizeRetirement Monthly provides tips and resources. Take action to help you save, manage debt, and focus on your overall financial wellness.
• Understanding MissionSquare Retirement - Investing in Volatile Markets
• Live Education Webinars - Personal Financial Planning Services provides information to help prepare for retirement. From financial planning and investment basics to general savings strategies, there are topics for you. 

MissionSquare Retirment Specialist 

• Need guidance? Not sure if you are prepared for retirement? Any questions?
• Contact the MissionSquare Retirement Specialist: Danny Kierath
• Click to schedule an appointment or email

Withdrawals
You can make withdrawals from your account when you leave employment or in emergency situations only, which are outlined by MissionSquare. If you are experiencing a financial hardship, you ma apply for an emergency withdrawal. Complete the Emergency Withdrawal Application and submit to the MissionSquare Retirement by fax 844.677.3297.