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Riley County to join 457 auto‑enrollment pilot to boost employee retirement participation
Summary
The commission approved Riley County’s participation in a pilot to auto‑enroll employees in the county’s 457 deferred‑compensation plan, with a proposed 3% default and 1% annual escalation, while allowing employees to opt out.
Riley County will participate in a pilot program to auto‑enroll employees in its 457 deferred‑compensation retirement plan, the commission voted June 25.
Human Resources Manager Michelle Reed described the pilot as an 18‑ to 24‑month program designed to increase retirement savings among county staff. Participation would default eligible employees into the county 457 plan at a chosen rate between 1% and 3% of pay, with an optional 1% annual escalation up to 6%. Employees may opt out or change contribution amounts at any time.
Reed said the county currently has 260 eligible employees but only 84 are enrolled (about 32%). She cited other jurisdictions’ experience: Sedgwick County increased participation from 34% to 94% after auto‑enrollment, and many participants remained in the plan. The board moved and approved a motion for Riley County to join the auto‑enrollment pilot.
Implementation: Human Resources will work with the 457 plan administrator to confirm the county’s default rate (the staff recommendation was 3%) and to provide enrollment notices and opt‑out instructions to employees before rollout in mid to late July.
