- Knox County Voluntary 457 Plan packets are now available at various locations
or you may contact the Retirement Office at 215-2323. - 457 Voluntary Plan Update Annoucement (Click Here)
All monies invested in the Knox County Asset Accumulation Plan, |
|
Current Investment |
|
Fixed Income Portfolio |
|
ING Intermediate Bond A |
J.P. Morgan Core Bond |
Moderate Portfolio |
|
John Hancock Bond A |
Pioneer Bond |
Balanced Portfolio |
|
John Hancock Classic Value A |
Pioneer Equity Income |
During the Blackout, along with the changes being made to three investment styles we are also adding three new blended funds offered by Vanguard. The new blended funds to be added are as follows:
Vanguard LifeStrategy Income
Typically hold between 5% and 30% stocks, remainder in bonds or cash equivalents
As of 4/30/09, allocation at 27.81% stocks
55% of fund is indexed, 45% is actively managed
Vanguard LifeStrategy Conservative Growth
Typically hold between 25% and 50% stocks, remainder in bonds or cash equivalents
As of 4/30/09, allocation at 48.11% stocks
55% of fund is indexed, 45% is actively managed
Vanguard LifeStrategy Growth
Typically holds between 65% and 90% stocks, remainder in bonds or cash equivalents
As of 4/30/09, allocation at 87.70% stocks
75% of fund is indexed, 25% is actively managed
Something new for active employees…As an active employee, you will be receiving something new in the mail from the Knox County Retirement & Pension Board. We have put together an annual statement to reflect the value of your benefits as of December 31, 2008.
2009 IRS 457(b) Deferred Compensation Limits Announced
Each year the IRS sets limits for how much a 457(b) Participant can contribute on a pre-tax basis. For participants who are age 50 or older and for those who are within 3 years of normal retirement (age 62, 63, 64 except for UOPP who is 3 years prior to 25 years of service with a minimal age of 50), additional contributions are allowed up to a higher limit. For participants who wish to use the “catch-up” provision and contribute more than the basic limit, the Retirement Office must be informed with a notation on the 457(b) Enrollment/Change Form. Unless otherwise noted, Participants will be limited to the annual limit of $16,500 for 2009.
Keep in mind, that you can monitor your year-to-date employee contributions on your payroll check stub.
Limit Year |
2009 Limit Amount |
AGE 50 or Older |
Age 62, 63, 64 |
2009 Annual Limit |
$16,500 |
$16,500 |
$16,500 |
Catch Up |
$0 |
$5,500 |
$16,500 |
Total Eligible |
$16,500 |
$22,000 |
$33,000 |
