| Deferred Compensation |
MAC offers four different 457 plans in which you can defer pre-tax portions of your salary to supplement your retirement income. These plans are available through AETNA, ICMA, Kemper, and the MN Deferred Compensation Plan. |
| Flexible Spending Plans |
Employees may set aside up to $5,000 per year for payment of reimbursible health care expenses. In addition, employees may set aside up to $5,000 of pre-tax dollars for payment of dependent care expenses. The dollars contributed to this plan are pre-tax dollars, not subject to Federal, State, or Social Security taxes. |
| Health Care Savings Plan (HCSP) |
This innovative tax deferred program is offered to help you offset medical premiums and out-of-pocket medical expenses upon your termination of employment. |
| Public Employees Retirement Asscoiation (PERA) |
By state law, all MAC employees are enrolled in PERA. Employees contribute 5.75% of their annual salary through payroll deductions. In return, MAC contributes 6.25%. Contributions are tax deferred until retirement. |
| * Benefits may vary for employees covered by a collective bargining unit. |