Deferred Compensation

Nationwide is here 

www.Scottsdale457.comlinks to external site

 

Workshops and one-on-one meetings where you can learn more about the plans, receive one-on-one transition support and meet our Nationwide retirement specialists are held throughout the city.

If you would like to attend one of the group presentations or schedule a one-on-one meeting, RSVP herelinks to external site.

Time slots do fill up quickly. Please check back often as new slots are opened up periodically.

 

For additional information, view the Nationwide Transition Brochure or the Nationwide Transition Presentation.

Overview

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 Federal and Arizona state income taxes are deferred until your assets are withdrawn, usually during retirement when you may be in a lower tax bracket.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:

Year Contribution Limit
2018 $18,500

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.  All changes are made online at www.Scottsdale457.comlinks to external site.

The deferred compensation plan offers a wide array of investment options.  Investors may choose from  core lineup, managed account option with Nationwide ProAccount or a self-directed option with Schwab Personal Choice Retirement Account (PCRA).  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 Nationwide Representative is Jason Herron.  You may email him at J.Herron@Nationwide.com or call him at (602) 909-6071.

For your convenience, you can schedule an appointmentlinks to external site online.

Contacts

 

 

Customer Service Team: (855) 826-5400

Plan Document

457 Deferred Compensation Plan Document  (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.