Mandatory Contributions
Participation in the Asset Accumulation Plan (Asset Plan) is required as a condition of employment for those designated by Knox County Government or Knox County Schools as regularly scheduled to work at least 18 ½ hours per week. You are required to make mandatory pre-tax contributions of 6% of your Compensation. Participants direct the investments of their accounts.
Please note:
This summary highlights the provisions of the Asset Accumulation Plan (Asset Plan), which are written in a Plan and Trust Agreements. It is not meant to interpret, extend or change the Plan in any way. Accordingly, the actual and complete provisions of the Plans can only be determined accurately by consulting the Plan and Trust Agreements. In the event of any discrepancy between this summary and the actual provisions of the Plan, the Plan shall govern.
Documents related to the Asset Plan can be found on this site.
Important information:
There may have been changes to the Plan document since the SPD was written; those changes have been incorporated into the Plan document.
