New deferred compensation savings opportunity available

The Minnesota Deferred Compensation Plan (MNDCP) is now offering an additional retirement savings option to City employees. In addition to pre-tax savings programs that MNDCP has offered City employees in past years, employees now have the opportunity to select the Roth contribution program, which is an after-tax savings alternative. (Roth participants pay taxes on contributions as they make them. Participants in pre-tax programs pay taxes when they withdraw funds.)

To learn more about the after-tax contribution option

A MNDCP representative will be on hand at a Feb. 13 meeting to explain the Roth contribution program and outline the pros and cons of an after-tax retirement savings program:

Wednesday, Feb. 13
7 a.m.
First floor conference room, Currie facility, 1200 Currie Ave.

No advance registration is required to this presentation. If you cannot attend this meeting, you are welcome to contact MNDCP representative David Wright at 651-296-2761.

About the Minnesota Deferred Compensation Plan

The Minnesota Deferred Compensation Plan is administered by the Minnesota State Retirement System and allows eligible employees to accumulate additional retirement savings on a tax-favored basis.

For more information, visit CityTalk’s Deferred Compensation Web page or the Minnesota Deferred Compensation Plan’s Website.    

 

Published Jan 30, 2013