Retirement

Retirement is an important milestone in everyone’s life. MCC is proud to offer a variety of resources to help you make sure you are on track for this next step.

Defined Benefit/Pension Plans

Both the Public School Retirement System (PSRS) and the Public Education Employee Retirement System (PEERS) are required plans for respective employee types, so enrollment is automatic.

Public school retirement system (pSRS)

For our Faculty, Administrators, and Staff with teaching certificates, the PSRS manages your Defined Benefits/Pension Plan. Your contributions and the match by MCC are as follows:

  • 14.5% employee contribution matched by the district
  • 1.45% Medicare contribution

  • 9.67% employee contribution matched by the district
  • 7.65% FICA/ Medicare contribution

Public Education Employee Retirement System (PEERS)

For all other Staff, PEERS manages your Defined Benefits/Pension Plan. Your contributions and the match by MCC are as follows:

  • 6.86% employee contribution matched by the district
  • 7.65% FICA/Medicare contribution

403(b) plan Information

If you would like to increase your retirement savings beyond the Defined Contribution/Pension Plans, you can elect to contribute to a 403(b) Plan. A 403(b) plan is a tax-deferred retirement plan available to employees of public educational institutions and certain tax-exempt organizations. You can make pre-tax contributions to this plan through payroll deductions.

All employees, except those classified as students or undocumented immigrants, are eligible to participate

  • MCC will match your contributions on a 3:2 ratio
    up to a maximum of $1,000 per year for full-time employees only.
  • Elective deferrals—Employee contributions and rollover contributions to the plan, plus any earnings they generate, are fully and immediately vested.
  • Matching contributions—Employer contributions, plus earnings eligible for distribution, are 100% vested.

Enroll in the 403(b) plan any time online, meet with a Corebridge financial advisor, or call the Enrollment Center.

403(b) Online Enrollment Access Codes

Go to corebridgefinancial.com, select “enroll in your retirement plan” and enter the corresponding access code from below:

  • Pre-Tax: 07358201
  • Roth: 07358212

  • Pre-Tax: 07358202

  • Roth: 07358222

  • Pre-Tax: 07358203
  • Roth: 07358233

  • Pre-Tax: 07358204
  • Roth: 07358244

  • Pre-Tax: 07358206
  • Roth: 07358266

Retirement Plan Support

MCC offers retirement plan guidance and support through our independent retirement plan adviser, CBIZ. Whether you would like to learn more about your plan, identify a savings strategy that work for you or even get guidance for selecting investment for your retirement portfolio, your CBIZ team can help. Schedule online at fitconnect.cbiz.com or call 1-866-224-9348 to get started.

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