Deferred Compensation Plans

 

Deferred Compensation (457) Plans

The Borough’s Deferred Compensation program allows employees to set aside (through payroll deduction with pre-tax dollars), an amount up to 100% of taxable compensation or $18,500. Employees who are age 50 or older prior to January 1, 2019, can take advantage of the catch-up provision by contributing an additional $6,000 for a total of $36,000.

 

Benefits of participation are:

  1.      1.  Lower taxable income through current deferral.
  2.      2.  Accumulation of tax-deferred assets to produce income in retirement when an individual’s tax rates may be lower.
  3.      3.  Portable retirement benefit. 

 

ICMA—RC

  •       Home Office: 777 North Capitol St. NE
  •       Washington, DC 20002-4240
  •       Jeff Spindle, Anchorage based representative
  •       (866) 328-4664
  •       ICMA Enrollment Form   
  •  

MassMutual

      Home Office: PO Box 1583, Hartford, CT 06144-1583
      (800)528-9009 8 am to 8 pm EST

      MassMutual accounts are serviced by local Edward Jones Financial Advisors
        A. Christopher Knott
        4001 Geist Road
        Fairbanks, AK 99709
        (907)458-7700 or (800)840-8141
        FAX: (888)209-8196

        Jose' Luis Martinez
        316 Old Steese Hwy, Suite A
        Fairbanks, AK 99701
        (907)452-8227
        FAX: (888)464-5237

      Contact one of the above representatives for Enrollment Information

     MassMutual Change Form

NACO (Nationwide)

     One Nationwide Plaza
     PO Box 16766, Columbus, OH 43272-8227
     Brent Flowers, Representative in Ohio
     (877) 677-3678 Opt 8, then ext 48834

      Nationwide Enrollment Packet