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  • Important Notice Regarding Deferred Compensation

    Oct 11, 2017 | Read More News
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    On Tuesday October 3, 2017, the Board of Supervisors approved the transfer of all current 457 Deferred Compensation plans to Nationwide under the Arizona State Retirement Systems (ASRS) Supplemental Salary Deferral Plan (SSDP). This transfer will take place for all ICMA-RC, Prudential and current Nationwide/National Association of Counties (NACo) plan participants.  The transition process is currently being developed and is expected to take place during the second quarter of 2018.  Nationwide will transfer funds to investment options that are most similar to current plan elections.  After the transition concludes, you will have full access to your new Nationwide account and will be able to make whatever changes you wish.

    What do you have to do?

    If you are currently contributing to a 457 plan with Pima County, you do not need to take any action at this time. Simply stay informed while the County and Nationwide take care of the transition for you.  However, if you are not currently enrolled in one of the County’s 457 plans, you may enroll now with Nationwide and take advantage of the special 3.5 percent fixed option currently available. After the transition, no future funds will be contributed to the 3.5 percent fixed investment, but funds already on deposit in that account will remain.

    What is the Pima County Deferred Compensation Plan?

    The 457 Deferred Compensation Plan is a tax-advantage benefit program available to employees of Pima County. The plan allows you to defer a portion of your income through payroll deductions, to invest for retirement or help meet other long-term savings needs. By federal law, the plan operates solely for the benefit of employees and their beneficiaries. You can manage the money you defer into the plan according to your long-term financial or retirement goals. Nationwide’s Retirement Specialist can assist you in determining your ideal investment mix, set realistic time horizons and provide a retirement readiness report.

    Where can I get more information?

    Your best resource to discuss any aspect of this transition or your retirement planning goals is Pima County’s local Retirement Specialist, Ron Savageau.

    Ron Savageau

    Cell: (520) 664-5980

    Fax: (866) 996-4124

    Email: ron.savageau@nationwide.com

    To schedule an on-site appointment with him, go to:

    Individual 457 Deferred Compensation Appointment Scheduler

    Additional information will be posted on the Benefits webpage as it becomes available.

    Thank you for your patience during this transitional period.