Deferred Compensation Plan For Non-employee Directors In Cuyahoga
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Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
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We protect your documents and personal data by following strict security and privacy standards.
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FAQ
Are pensions or retirement income taxed in Ohio? In general, government pensions and retirement income are taxed in Ohio, but there are some exceptions. Social Security and some railroad retirement and military benefits are not taxed. Also, Ohio does not tax nonresidents' retirement income.
The Ohio Deferred Compensation program offers a flexible and tax-advantaged way for state and local government employees to supplement their retirement savings. With options for both pre-tax and Roth contributions, participants can tailor their approach to suit their financial goals and tax preferences.
Ohio457@Nationwide.
Ohio Deferred Compensation is a supplemental 457(b) retirement plan for all Ohio public employees.
Ohio DC provides participants with educational tools, a diverse set of investment options, flexible savings and withdrawal options, as well as portability when changing jobs within the public sector.
Beginning in the calendar year you turn age 60, 61, 62 or 63 you can contribute $34,750. When you turn age 64, your contribution limit reverts to the Age 50+ catch-up amount.
How much can I contribute? Traditional 457(b) 2025 Annual Regular Limit $23,500 (total limit includes both traditional and Roth contributions) 2025 Annual Age 50+ Catch-up Limit $31,000 (total limit includes both traditional and Roth contributions)7 more rows
Elective deferral limit The amount you can defer (including pre-tax and Roth contributions) to all your plans (not including 457(b) plans) is $23,000 in 2024 ($22,500 in 2023; $20,500 in 2022; $19,500 in 2020 and 2021; $19,000 in 2021).
