Deferred Compensation
The City's Def. Comp. Plan is overseen by the Deferred Compensation Committee. The Committee consists of five members: three elected by City employees and two appointed by the City Council, who is the Trustee for the Plan (Click here to see the Trust Agreement).
The elected members are:
Steve Mermell, Office of the City Manager, Committee Chair, 744-6936
Yesenia Alvarado, City Manager, 744-7033
Mark Jomsky, City Clerk, 744-4709
The appointed members are:
Raphy Timour, – Pontrelli, Timour & Associates
David Goodrich, Parsons
The Committee meets quarterly in the Finance Conference Room. Dates and times are posted and are available by contacting Veronica Jones at 744-4351.
The Def. Comp. Plan is administered by the Department of Finance.
The Director of Finance, is the Plan Administrator.
April 9, 2012 meeting to discuss changes in plan provider to Great West - Session 1
April 9, 2012 meeting to discuss changes in plan provider to Great West - Session 2
Power Point presentation from April 9 meetings
Great-West
Deferred Compensation Investments are provided through Great-West Retirement Services. Account services including, roll-outs/roll-ins, transfer between investment options, and requests for hardship withdrawals should be directed to Great-West Retirement Services. You may contact Great-West several different ways:
- Online at www.cityofpasadena457.com
- Great-West’s call center (800) 701-8255
- Doug Slavin, Pasadena’s local Great-West Retirement Services representative (800) 382-8924 or doug.slavin@gwrs.com. Doug routinely visits city offices. For dates, times, and location please contact the Department of Finance.
The Current rate on the Pasadena Custom Stable Value Fund (Declared Rate) Account is 2%.
Ticker symbols for investments are available at: www.cityofpasadena457.com
Purchase of PERS service credit
Did you know you may use your Deferred Compensation funds to purchase PERS service credit. Click this link to CalPERS and after walking through the initial screens click the link for 'service credit' to learn more.
Other Links: