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Pension
401(a) Defined Contribution Plan - General Employees
  • Carrier: Great West Life. Group retirement plan for general employees. Village contributes 5% of employee’s salary. No employee contribution. Employees are eligible after one year of service. Vesting period: two years - 20%, three years - 40%, four years - 60%, five years - 80%, six years - 100%.
  • Investment options: Guaranteed funds or variable funds.

401(a) Defined Contribution Plan - Commissioned Officers

  • Carrier: Great West Life. Group retirement plan for commissioned officers. Village contributes 14% of employee’s (police officer’s) salary. No employee contribution. Employees are eligible date of hire. Vesting period: one year - 20%, two years - 40%, three years - 60%, four years - 80%, five years - 100%.
  • Investment options: Guaranteed funds and variable funds.