Retirement Plans

Pension Plans

Shelby County Government currently sponsors four pension plans. The plan you participate in will depend on when you were hired:

Plan A: For employees hired on or after December 1, 1978, or who elected to transfer from Plan B

Plan B: For employees hired before December 1, 1978, who did not elect to transfer to Plan A

Plan C: For employees hired on or after March 1, 2005, or who elected to transfer from Plan A

Plan D: For employees hired on or after July 1, 2011

These plans are all “defined benefit” plans, meaning they provide a pre-determined, fixed benefit. How your benefit is calculated will depend on the plan you participate in as well as things like your years of Credited Service and your Final Average Earnings.

Note: You are required to contribute a certain percentage of your earnings each pay period to the pension plan that you participate in. Shelby County will make additional contributions each year, based on the yearly actuarial valuation requirements.

Deferred Compensation Plan

This plan provides you with another way to save for retirement—on a tax-deferred basis. It’s a 457(b) plan, which is a “defined contribution” plan, meaning that your benefit will be determined based on how much money you contribute to the plan.

If you participate, you choose how much to contribute per pay period, up to IRS limits.

Contribution Limits

In 2024, you can contribute:

• Maximum of $23,000 (increasing to $23,500 in 2025)
• Additional $7,500 in catch-up contributions if you are age 50 or over by December 31 (increasing to $11,250 in 2025 for those turning age 60-63 by December 31)

For more information about the Deferred Compensation Plan, visit empowermyretirement.com or contact your local Empower Representative, Alese Pewitt, at (901) 500-5075.

New and current participants need to register when visiting the Empower site for the first time before they can log in or enroll.