The City of Westfield is pleased to offer eligible employees a retirement plan as a benefit to help you save and invest for retirement.
Through the convenience of payroll deductions, you can make combined before-tax or Roth after-tax contributions up to certain limits set by the IRS each year. Your before-tax contributions - and any earnings - will accumulate tax deferred until withdrawn (generally at retirement), at which time withdrawals will be taxed as ordinary income. Roth contributions will be included as taxable income in the year of contribution. Earnings on Roth contributions will accumulate tax free, and retirement withdrawals may be exempt from federal income tax if certain requirements are met.