Does the District plan to have a 401(k)?
The District does not offer a 401(k) plan. However, for employees hired on or after October 1, 1987, we offer a 401(a) plan, or “defined contribution” plan. The plan consists of 100% employer-provided contributions plus earnings over the course of the participant’s working years. The District funds this plan; there is no employee contribution. The current employer-paid contribution is 5% of the base salary (5% for Corrections Officers). Employees must have one year of continuous service to participate, and they are fully vested in the Defined Contribution Pension Plan after five years of continuous service. Investment options are available through ING Financial Advisors, and employees may change their options at any time. For more information, call (800) 584-6001 or (202) 442-9747, or go to the ING Financial Advisors website. Employees hired before October 1, 1987 are subject to the provisions of the Civil Service Retirement System (CSRS), which is administered by the U.S. Office of Pe
