The Deferred Compensation Representative will conduct semi-annual enrollment and review of the Nationwide Deferred Compensation Program for City employees January 19, 20, & 21.
Bill Barnes, the Deferred Compensation Representative will be here to conduct the semi-annual enrollment and review of the Nationwide Deferred Compensation Program for the City of Stevens Point employees.
Deferred Compensation is a method which allows you to set aside a portion of your gross salary (to a maximum of $18,000 for those under age 50 an additional catch up for those over age 50 of $5,500 to a maximum of $24,000. Three years prior to normal retirement age, a catch-up provision allows additional withholding to a maximum of $36,000. (Speak with Bill for further details!). The amount deferred reduces current State and Federal income taxes. Earnings on these deferrals also accumulate tax free until withdrawn upon retirement or termination of employment.
You can schedule your own appointment with Bill about Deferred Compensation by going to www.stevenspoint.myretirementappt.com or stop in to visit with him when he is in your building (see schedule below).
If you are currently participating in the Deferred Compensation Program, now is the time to change the amount of your deferral or adjust your investment allocation; if you are not currently enrolled, now is your opportunity to begin participation in this excellent program.
Meeting Schedule:
Tuesday, January 19, 2016
Fire Department 7:30 a.m. to 10:00 a.m.
Police Department 10:30 a.m. to 1:00 p.m.
Streets Department 2:30 p.m. to 3:00 p.m.
Wednesday, January 20, 2016
Fire Department 7:30 a.m. to 10:00 a.m.
Water Department 10:30 a.m. to 12:30 p.m.
City Hall (City Conference Room) 1:30 p.m. to 2:45 p.m.
Thursday, January 21, 2016
Fire Department 7:30 a.m. to 10:00 a.m.
City Hall (City Conference Room) 10:30 a.m. to 1:00 p.m.
Parks Department (Rec Center) 2:30 p.m. to 3:00 p.m.