Deferred Compensation

The City of Alameda offers a variety of deferred compensation investment programs that allow employees to participate in a voluntary, payroll-deducted supplementary retirement program. A deferred comp plan can help bridge the gap between what you have in your pension and how much you will need in retirement. Furthermore, a voluntary pre-tax contribution will allow a participant to reduce their taxable income for the year and all associated earnings are not subject to tax until withdrawn.

 

Under Section 457 of the Federal Internal Revenue Code, a participant may contribute up to $18,000 towards a supplemental retirement plan. Additional contributions are available to employees age 50 or over, or if the participant is eligible for a “pre-retirement” catch-up-contribution and is within three (3) years of normal retirement age.

 

Enrollment information to the City’s three plans are available at the Human Resources Department or by clicking on the links below. Participation is handled through payroll deductions on a pre-tax basis. All enrollment and change forms must be submitted to the Human Resources and/or payroll, for proper processing.

 

Quarterly on-site meetings are held by the deferred comp representatives, allowing current or future participants to speak to a specialist in financial planning.

 

Listed below are the dates our representatives have scheduled for individual appointments:

 

 

For ICMA-RC Appointments     For CalPERS 457 Appointments       For Nationwide Appointments

   Click HERE.                      Click HERE.                           Click HERE.     

 

 

Area Rep. Contacts and Deferred Comp Forms Listed Below:

 

Randi S. Carmen

Retirement Plans Specialist

ICMA-RC

C: 866/620-6068  

F: 510/483-1598

E: rcarmen@icmarc.org

 

ICMA-RC Forms:

ICMA-RC Enrollment Form

ICMA-RC Beneficiary Change Form

457 Loan Request Packet

 

 

Tamika Workmon

Retirement Plans Specialist

CalPERS 457

T: (888) 713-8244 x 2

F: (888) 228-6185

E: Tamika.workmon@voya.com

 

CalPERS Forms:

CalPERS Enrollment Kit

CalPERS Beneficiary Designation Form

CalPERS Unforseeable Emergency Form

 

 

Jake Sours

Retirement Plan Specialist

Nationwide

Telephone: (877) 677-3678

Cell: (916) 708-1320

Fax: (877) 677-4329

E: Soursj1@nationwide.com

 

Nationwide Forms:

Nationwide Participation Agreement

Nationwide Beneficiary Change Form

Nationwide 457 Distribution Form

Nationwide 457 Guidebook

 

All completed deferral change forms must be submitted directly to the Finance Payroll Division

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For more information or questions regarding the 457 Deferred Comp Plan, please contact the Human Resources Department at hr@alamedaca.gov or via telephone at (510) 747-4900.