Each year, the National Association of Government Defined Contribution Administrators (NAGDCA), with support from a resolution by the U.S. Senate, promotes National Retirement Security Week (NRSW). Ohio Deferred Compensation and NAGDCA's goal during NRSW (October 21-27) is to promote the idea of saving money for retirement. To illustrate the basics, NAGDCA put together a quick video here. Send your staff to this link to see some of the materials NAGDCA created for them.
The Costs of Delayed Retirement
As employees approach retirement, they are often the most expensive members of an organization, based on both salary and benefits. Just one employee who isn't able to retire may cost an organization $8,500 per year. Click here to learn more about the benefits provided by Ohio Deferred Compensation that can help your employees avoid delaying retirement.
Deferred Compensation Terms
Tax Deferral - Pre-tax money invested now to grow tax-free until money is withdrawn, at which point taxes will be assessed. Used to help people save for retirement in both the public and private sector. 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
Actively Plan Your Financial Future.
Download articles on healthcare in retirement, what is deferred compensation, fees, and more.
Learn more.
If you received this email you are on the list for future employer communications. If this was forwarded to you, you can join our list by
contacting us.
Message from the Executive Director: Keith Overly
Help Employees Get Prepared for Retirement
Conservatively speaking, 65% of Americans save only a little or nothing for retirement (Bankrate's Financial Security Index Feb. 28-March 4, 2018) and 46% of Americans don't believe they will be financially comfortable when they retire (GALLUP, 2016-2018). Another 40% of workers say their employers do not provide any type of retirement or financial education (Dave Ramsey Retirement Education Study August 2016) but employees would like more education and advice from their employers on how to reach their retirement goals.
Ohio DC can help if your employees have retirement savings questions or concerns. 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 [email protected] with any specific questions.
