Invest in Your Future
Our employees are empowered to make their money work for them now and for their future. We have a pension plan, deferred compensations (457 and 401(k)), flexible spending accounts and more.
The City has both 401(k) and 457 deferred compensation plans in which you may voluntarily participate.
The City provides an employer-paid 401(k) contribution equal to $1,000 and 2% for all Confidential employees and $2,000 and 3% for Executives and non-sworn Managers . The contributions will be made on a per pay-period basis. This is not an "employer match"; rather, it is a contribution made to a 401(k) account on your behalf.
There is also a Roth option available for employees.
CalPERS Pension Plan
Full time employees of the City of Concord are eligible for the California Public Employees’ Retirement System (CalPERS), a defined benefit pension plan for all full-time employees. CalPERS retirement benefits are calculated based on members years of service, age, and final compensation. This is in addition to Social Security. Employee paid contributions to the pension plan is mandatory and is deducted bi-weekly on a pre-tax basis from your paycheck.
Flexible Spending Accounts (FSA)
Our employees can set aside pre-tax dollars to pay for out-of-pocket healthcare expenses not covered until your healthcare plans and for dependent care.
The Flexible Spending Accounts (FSA) are a great way to use pre-tax dollars to pay for expenses paid with aftertax dollars! You may enroll in either or both the Healthcare Spending Account or the Dependent Care Spending Account. These accounts allow you to redirect a portion of your salary on a pre-tax basis into reimbursement accounts. Money from these accounts is then used to pay eligible expenses that are not reimbursed by your health plans, as well as reimbursement for dependent care expenses.
Transportation Spending Account
Getting to work is important! The city wants to make sure that the commute to work is as stress free as possible. We offer pre-tax benefits for commuting and parking.
Pay for transportation to and from work tax free. Common eligible expenses include transportation through train, bus, subway, and ferry. Up to $280 per month can be contributed on a pre-tax basis for 2022.
Pay for parking at or near your regular place of employment tax free. Up to $280 per month can be contributed on a pre-tax basis for 2022.