Deferred compensation moves to Nationwide Jan. 11
In August, the City Council considered changes to the deferred compensation plan and adopted the recommendation to select Nationwide as our new deferred compensation provider.
Participants invested in a 457 plan will be transferred to Nationwide on Jan. 11, 2018. The transition period will be short and seamless.
Workshops will be held where you can learn more about the plans, receive one-on-one transition support and meet our Nationwide retirement specialists. If you plan to attend one of the Jan. sessions, please bring your laptop/tablet/cell phone as part of the session will be designated to help you establish your online account.
2:30 p.m. Tuesday, Dec. 19: North Corporation Yard — Wrangler Room
9 a.m. Wednesday, Dec. 20: Public Safety Headquarters — Arizona Room
10 a.m. Friday, Jan. 12: Fire Station #2 - Computer Room*
11 a.m. Friday, Jan. 12: Fire Station #2 - Computer Room*
8:30 a.m. Wednesday, Jan. 17: District 1 - Community Room
11 a.m. Wednesday, Jan. 17: North Corporation Yard - Wrangler Room
1:30 p.m. Wednesday, Jan. 17: Fire Station #2 - Computer Room*
2:30 p.m. Wednesday, Jan. 17: Fire Station #2 - Computer Room*
10 a.m. Tuesday, Jan. 23: Public Safety Headquarters - Arizona Room
9 a.m. Thursday, Jan. 25: North Corporation Yard - Wrangler Room
*Given seating limitations, an RSVP link will be provided in January for sessions held at Fire Station #2
The city's deferred compensation program allows you to save and invest today for your retirement. Federal and Arizona state income taxes are deferred until your assets are withdrawn, usually during retirement when you may be in a lower tax bracket.
Under Section 457 of the Internal Revenue Code, you may defer each year a maximum of 100% of your "gross compensation" or an annual dollar limit, whichever is less. The dollar limits are:
Participation in Deferred Compensation is handled through payroll deduction so your taxes are reduced each pay period.
Our plan allows you to increase, decrease, stop or restart contributions without fees or penalties. Stopping your contributions occurs immediately. Increasing or decreasing contributions will change on the first paycheck of the month following the date you sign the form.
The deferred compensation plan offers a wide array of investment options. Investors may choose ICMA-RC's Vantagepoint Funds or other popular funds offered in a Mutual Fund series. You may generally transfer your assets between funds without restriction. However, some funds may limit your ability to conduct frequent transfers to protect the interest of other investors.
The city's ICMA-RC Representative is Randall Neis. You may email him at firstname.lastname@example.org or call him at (888) 883-8578.
For your convenience, you can schedule an appointment online.
- Randall Neis, Retirement Plan Specialist
ICMA-RC Services, LLC
P: (888) 883-8578
Investor Services: (800) 669-7400
- plan document
- ICMA & Roth IRA Change Form (PDF)
- ICMA-RC Beneficiary Change Form
- ICMA-RC Roth IRA Application (PDF)
Produced by Human Resources:
This information represents a summary of benefits provided by the City of Scottsdale to benefited employees. Every effort has been made to report information accurately. All information, including the amount of any benefit and employee eligibility of benefits, is subject to and governed by the terms and conditions of the applicable policy or plan documents. In all cases where any of the information provided differs from the amount of benefit actually provided by the policy or plan, the terms of the legal documents will control.
9191 E. San Salvador Drive
Scottsdale, AZ 85258