The National Association of Government Defined Contribution Administrators (NAGDCA) has been hard at work developing new material for National Retirement Security Week (NRSW), which runs from October 21-27. The Retirement Garden video series has three age-specific videos for you to send to your staff to get them engaged in saving money for retirement. If they're just starting out you can send them the Early Career link. If they have a few years in, send them the Mid-Career link. For those nearing retirement, send them the Late Career link.
Financial Stress Affecting Your Staff?
You may see staff members having a hard time concentrating while they're at work, or maybe you're noticing frequent absenteeism. It could be that they're suffering from the effects of financial stress. It's a common occurrence and can have a lot of negative impacts on an employee's performance. If you're like a lot of employers, you'd like to figure out a way to help. Ohio DC has some possible solutions here.
Deferred Compensation Terms
Rate of Return - Percentage of change in an investment, including appreciation or depreciation and dividends or interest, over a given time period. Most rates of return of funds within a retirement plan are expressed on an annual basis ("annualized"), unless stated otherwise.Visit our participant website to learn other definitions.
Share Deferred Compensation-related Articles with Your Employees
Ohio DC can provide monthly information on retirement issues for your newsletter or Intranet. This month, instead of a single article we have the
3rd Quarter Focus Newsletter.
Download articles on healthcare in retirement, what is deferred compensation, fees, and more.
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Message from the Executive Director: Keith Overly
Confirm the Number of Paychecks to Staff
Based on when your organization provides paychecks to your staff, you may have 27 pay periods this year. Be sure to check with your payroll department to confirm how many pays you will have in 2018, as we will have to take this into account at Ohio DC. Based on IRS guidelines, we need to make sure that employees aren't deferring too much into their Ohio DC account. If your organization will have 27 pays this year, Ohio DC staff will be reaching out to you soon, if we identify employees whose annual deferrals could exceed the IRS limits.
If you would like to find out more about the tools and resources available to help you and your staff save for retirement, call our Service Center at 877-644-6457, visit our website at Ohio457.org or feel free to email our staff at Ohio457@nationwide.com with any specific questions.