City of Memphis | Total Rewards

Retirement Hub

Our Mission Statement

At the City of Memphis, we are committed to honoring the dedication of our employees by providing comprehensive retirement benefits that support their well-being and financial security. Our goal is to offer clear accessible information and resources to assist both current and future retirees in navigating their benefits, including pension plans, health insurance options, and wellness programs. We strive to ensure that every retiree feels valued and supported as they transition into and enjoy their retirement years.

Empower Retirement Portal

Helps simplify retirement planning by providing  personalized tools, information and services. 

Full-Time Retirement and Supplemental Benefits​
Retirement Benefits
1948 & 1978 Pension Plan

The Defined Benefit Plan covers the legacy 1948 and 1978 pension plans and includes employees and retirees with 7.5 years of pension-creditable service as of July 1, 2016.
Hybrid Pension Plan

Full-time employee who was hired in a pension position on or after July 1, 2016, or a Transferred Participant (as of June 30, 2016 with less than 7.5 of pension creditable service time.​
Social Security Supplemental Benefit

This supplemental benefit is for full-time nonpension employees (ex, Solid Waste) who receive Social Security payments.​ Employees receive 2.35% supplemental contributions to their 457(b) plan. ​ Eligible employee who contribute to the City’s 457(b) plan also receive matching contributions up to 4.5%. ​
Supplemental Benefits (Part-Time and Full-Time Employees)

457(b) Deferred Compensation Plan ​

Part-time and full-time employees may contribute to the plan through payroll deductions on either a pre-tax (Traditional) or after-tax (Roth) basis, up to the current IRS annual limit of $24,500. Traditional contributions reduce taxable income now, while Roth contributions are taxed upfront but allow for tax-deferred growth and potential tax-free withdrawals if eligibility requirements are met. Employees age 50 or older may contribute an additional $8,000 in catch-up contributions, for a combined maximum of $32,500,once the standard IRS limit has been reached. 

Contact Empower for personal one-on-one assistance on any of the following and much more.

  • Answer questions about your Plans.
  • Enrolling in the Plans.
  • Reviewing your account to determine retirement readiness.
  • Getting help with diversification, asset allocation and dollar cost averaging concepts.
  • Participant website tools and resources.
  • Pre-, and post-retirement planning assistance (DROP, RMD).
  • Consolidating outside retirement assets within the Plan.

Consolidation may not be right for everyone – individual situations vary. Investors should consider the impact of transfer fees, the loss of vested benefits and/or surrender charges that may be imposed by their current plan when funds are rolled over. Consider seeking consultation from your own independent financial and/or tax advisor before consolidating.

  To enroll: Click here to schedule or call (855) 756-4738

Retirement Plans

The retirement and disability function provides administration, governance and guidance for all the City’s pension, retirement and retirement disability plans.  Subject matter experts focus on providing a consultative and advisory service by answering questions and assisting with resolving pension, retirement and disability issues offered by the City.

Your Money

The City of Memphis has partnered with Via Benefits to assist eligible retirees and their families secure health insurance coverage by contributing funds to a health reimbursement arrangement (HRA) account. The amount of the HRA varies and is determined by the retiree’s and dependents’ age and Medicare status at the time of enrollment.

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