April 2021
Your monthly news & updates
Stay informed about the latest Ohio DC employer news. Find information about processes at Ohio DC, newsletters, and retirement planning for your employees. 
The Benefits of Dollar-Cost Averaging
You have probably heard the term "dollar-cost averaging" before, but did not think much about what it meant. Many people consider financial terms like "dollar-cost averaging" to be technical and too hard to understand, but the meaning is pretty simple and can help your employees save for retirement. To learn more about "dollar-cost averaging" and how it can benefit your employees, read the article: Dollar-Cost Averaging: Staying on Track.
Timely Remittance of Employer Deferrals
Did you know that your agreement with Ohio DC outlines your responsibility to timely remit employee contributions to Ohio DC? The U.S. Department of Labor has retirement plan rules that suggest employers should remit contributions as soon as they can segregate them from general assets. We believe a best practice is for employers to remit contributions by the time they deposit payroll tax withholdings. We understand the unique challenges some employers face in making quick payments to Ohio DC, but we have seen increased employee complaints about delayed employer payments. It is important that your employees do not miss out on possible market gains because of delays in sending their contributions for investment. If you have any questions about remittance or would like to provide an updated pay schedule, please email finance@ohiodc.org.
Ohio DC Related Info for Your Employees
Ohio DC can provide monthly information on financial issues for your newsletter or Intranet. This month, we would like to provide your employees with information about reviewing annual statemens, eDelivery, and Required Minimum Distributions: First Quarter Focus Newsletter. 

Download articles on health care in retirement, understanding 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
Christina Elliott
Executive Director
Helping Your Employees Prepare for Retirement
Whether your employees are still working or preparing to retire, they may have the option to defer a lump sum of money. For example, this could be unused sick or vacation time, known as "leave cash-out."

Ohio DC must receive the employee's request at least 31 days before the payout date of their lump sum. The employee must also be enrolled in Ohio DC before their last day of work.

If their leave cash-out is due to termination (ending employment or retiring), the IRS requires the deferred cash-out to be made within 75 days of their termination date or within the same calendar year in which they terminate, whichever is longer. The request to defer their termination cash-out must also be completed one month prior to their lump sum payout date.

Ohio DC is here to help you encourage your staff to save for retirement. Let us know if you would like to learn more about what we offer by visiting Ohio457.org, by calling your local Account Executive, or scheduling an appointment by clicking on your local Account Executive's name on the map.