What is Horizons?
Horizons is a voluntary supplemental retirement plan negotiated by Local 685, through the Coalition of County Unions (CCU).
Participants in Horizons make pre-tax payroll deductions, and the County of Los Angeles – as negotiated by Local 685 and the Coalition of County Unions – matches participants’ contributions dollar for dollar up to 4 percent of salary.
Horizons Participants have the opportunity to invest a multitude of investment options. Gains compound on a tax-deferred basis until withdrawal.
What does Local 685 have to do with Horizons?
The County match and the size of cap for the Horizons plan is negotiated by CCU as a part of the Coalition of County Unions’ Fringe Benefits Memorandum of Understanding (MOU). Over the past three decades, the CCU has negotiated a better match than most public employee plans.
A Premiere Negotiated Benefit
Most government employees have the right to participate in a deferred compensation or supplemental retirement plan. However, few non-management workers get an employer matching contribution or “match” on their investments.
Local 685 members not only have the right to invest in a deferred compensation plan, Horizons, but CCU has negotiated a dollar for dollar County match for every dollar invested up to 4 percent of salary.
This means that a $100 monthly investment really becomes a $200 investment because of the County match. That’s like getting a 100% return on your money before even investing it!