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Retirement Information
The City and County of Broomfield encourages saving for retirement through a Money Purchase Plan for General Employees and a Money Purchase Plan for Peace Officers.   

The Money Purchase Plans were established to provide funds for retirement for regular, full-time employees who meet eligibility requirements and to provide funds for their beneficiaries in the event of death.

The plans are currently administered by Great West. 

Money Purchase Plan for General Employees (Mandatory Participation)
 Total Contribution  Employee Contribution  Employer Contribution
12% of base pay  6% of base pay  6% of base pay
There is a graduated schedule for vesting of employer contributions (earn vesting at 20% per year). An employee must work at least 1,000 hours in a calendar year for the time to count towards vesting. Note: This money purchase plan is for non-sworn employees only.

Money Purchase Plan for New Hire Peace Officers (Mandatory Participation)
Total Contribution Employee Contribution Employer Contribution
20% of base pay 10% of base pay 10% of base pay
There is a graduated schedule for vesting of employer contributions (earn vesting at 20% per year). An employee must work at least 1,000 hours in a calendar year for the time to count towards vesting. Note: This money purchase plan is for sworn employees only.


Money Purchase Plans

Loan Procedure
For questions and/or to apply for a loan call Great West KeyTalk at 1.800.338.4015 or go to the website listed above. Please note that Human Resources does not process loan applications. You must contact Great West and apply for the loan online or by calling the KeyTalk number. Effective July 1, 2014 all future loans will no longer taken from Payroll and will be deducted from an employee's ACH (Automatic Clearing House) account. 

General Money Purchase Plan Loan Procedures

Peace Officer Money Purchase Plan Loan Procedures

Voluntary Retirement Plans – Administered by ICMA-RC

The City and County encourages additional savings for retirement through a deferred compensation plan defined by section 457(b) of the Internal Revenue Code and by a Roth IRA - both of these plans are administered by ICMA-RC.
 
  Voluntary Retirement Plans
Program  Maximum Annual Contribution Employee Contribution Employer Contribution
Deferred Compensation Plan  (457 Plan) Up to the lesser of $17,500 or 100% of pay. Employees age 50 or older can contribute an additional $5,500 per year Up to the lesser of $17,500 or 100% of pay. Employees age 50 or older can contribute an additional $5,500 per year $ -0-
Roth IRA – Voluntary Plan After tax deduction up to $5,500. Age 50 or older can contribute an additional $1,000 After tax deduction up to $5,500. Age 50 or older can contribute an additional $1,000 $ -0-
  
 
Defined Benefit Plan (this is a closed plan)

Social Security for City Employees

Other Resources


Retiree Recognition and Retiree Medical Insurance Reimbursement Programs



Please contact Human Resources at 303.438.6320 or at if you have any questions on the retirement plans.