Retirement Plan Summary

The City offers a voluntary 457(b) deferred compensation account to its full-time and part-time employees. Deposits are made through pre-tax payroll deductions, and earnings also grow tax-free. A Roth deferral is also available.

Voluntary deferrals are matched by the City at a rate of 10% per year of service, up to a maximum of 50%. Matching contributions are put into a 401(a) account.

In addition, sworn members of the Carmel Police, who do not participate in Social Security, receive a 401(a) contribution from the City equivalent to what it would have paid into Social Security had the employees participated in the Social Security program. These contributions in lieu of Social Security will not be matched by the City.

Retirement Planning Services

All 457(b) and 401(a) accounts are offered through American United Life Insurance (AUL). Peter Emigh, Senior Vice President of Financial Partners Group, is the City’s advisor for AUL products. Mr. Emigh’s associate, Chris Shockley, is the main point of contact for employees seeking information. He is happy to meet with employees, at no cost, to provide comprehensive retirement planning. Simply call for an appointment at a time and place convenient to you.

Pete Emigh, Certified Financial Planner, pemigh@argosfg.com, 317-574-2940
Chris Shockley, Certified Financial Planner, cshockley@argosfg.com, 317-574-2910

AUL Account Information

To see a list of available investments, review your retirement account, update your personal information or access a variety of financial planning tools go to CarmelRetirement.com.

Other Retirement Programs

• INPRS
• Social Security
• Medicare