Retirement

The City of Live Oak participates in Social Security and CALPERS

• CALPERS Retirement
  • 2.7 @55 – CLASSIC Members
  • 2% @62 – PEPRA Members
• New employees will be required to pay the full Employee Paid Member Contribution (EPMC)
  • CLASSIC – 8% employee contribution paid by the employee
  • PEPRA – 6.75% employee contribution paid by the employee

Employee Assistance Program

The City’s Employee Assistance Program (EAP) offered through ACI Specialty Benefits has been established to offer free, confidential counseling to all full-time employees and part-time employees. Services cover a wide range of personal issues including marital, family, interpersonal, emotional, and drug abuse issues. In addition, a number of life management services are available to help employees with child and elder care, legal, financial, credit, IRS, and retirement issues.

• Website: https://allonehealthmemberportal.mylifeexpert.com/login

Eligibility

All full-time and part-time employees and their eligible dependents may access EAP counseling and life management services.

Cost

The eligible employee pays nothing to participate. The City of Live Oak contributes 100% of the monthly premium.

Deferred Compensation Program

The City of Live Oak has the Voluntary 457 Deferred Compensation Plan that provides a convenient way for City employees to save money for retirement with pre-tax earnings. 457 Plans are a governmental deferred compensation plan defined by Section 457(b) of the Internal Revenue Code. This voluntary plan allows employees to supplement any existing retirement or pension benefits.

For more information visit CalPERS 457 Plan