March 2022
Your monthly news & updates
Stay informed about the latest Ohio DC employer news. Find information about awards, financial wellness, and contribution processing for your employees. 
City of Strongsville Receives Ohio DC Employer Resolution
The Ohio DC Employer Recognition Program recognizes employers who support Ohio DC through collaboration with educational initiatives, cooperation with Field Account Executives’ efforts, and measurably improved participation statistics over time. We would like to announce that the City of Strongsville was formally recognized by the Ohio Board of Trustees as a 2021 Employer Recognition Resolution recipient.

As an employer with more than 100 participants, the City of Strongsville increased annual enrollments by 200% by consistently promoting Ohio DC to all departments and allowing access by the Ohio DC Field Account Executive to all employees during the workday leading to greater visibility and higher enrollments.
Ohio DC Receives GFOA Excellence Award
For the 31st straight year, Ohio DC has received the Government Finance Officers Association's (GFOA) Certificate of Achievement for Exccellence in Financial Reporting for our Annual Comprehensive Financial Report. This indicates that the Annual Report meets the high standards of GFOA, demonstrating a constructive spirit of full disclosure to clearly communicate our financial story. View the certificate here.
Ohio DC Related Information for Your Employees
Ohio DC provides monthly information on finance-related issues for your employee newsletters or Intranet. The March article provides your employees with information about improving their financial outlook: Five Steps Toward Financial Relief. 

You can 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
Updated IRS Next Month Rule Processing
IRS regulations require changes to deferred compensation withholdings to begin in the month following the month that an employee requests the change. In the past, Ohio DC would select an effective date to be the first payroll date occurring at least 31 days after the date of the employee’s request. This rule worked well when Ohio DC mailed most of the change reports to employers. Since we now send this information more quickly by email or online delivery, Ohio DC has shortened the timeline to implement the requested change faster and still abide by the IRS regulations. Deferred compensation changes will now be effective on the first payroll date at least 14 days after the request and in the month following the request. 

Ohio DC is here to help you encourage your staff to save for retirement. You can visit Ohio457.org, call your local Account Executive, or schedule an appointment by clicking on your local Account Executive's name on the Schedule a Call with an Account Executive page.