457(b) Deferred Compensation Retirement Plan
In 2002, OASBO developed a 457(b) Deferred Compensation Retirement Plan and selected ING - now Voya Financial Advisors (Voya) - to be the investment provider for the Plan using an RFP process. The intent was to keep every district from having to develop a plan document and having to go through a process to select a provider. The plan was designed to be a high-service model that would provide service not only to the district treasurer but also to the individual employees who enrolled into the plan.
Employees have many questions regarding retirement and if they are fully prepared to take the leap. They are concerned as to whether their state retirement plan will be enough, should they contribute to a supplemental plan, how do they get started, how do they pick a provider, etc.
Treasurers oftentimes do not want to get involved in individual employee decisions and want to know that there is somewhere to point them for educational information. This is an opportunity to have a place they can go for assistance.
To learn more, click here to visit OASBO's dedicated 457(b) plan website.