Deferred Compensation Conversion and Match FAQ
be eligible for deferred compensation (savings plan) benefits. For more specific information about your bargaining agreement or plan, refer to the Labor Contracts & Pay Plans
on the MMB website.
- Deferred Compensation Match – Eligible employees may receive a state-paid employer match on their deferred compensation (savings plan) contributions on a dollar-for-dollar basis. The amount of the state match is specified in their bargaining agreement or compensation plan.
- Conversion – Eligible employees may convert unused vacation and/or compensatory hours to their deferred compensation (savings plan). The number of hours they may convert is specified in their bargaining agreement or compensation plan.
If you are eligible for a deferred compensation match or conversion, the questions and answers below will help you make your selection.