CITY OF DETROIT DEFERRED COMPENSATION PLAN OPEN ENROLLMENT

The spring open enrollment period for participation in the City of Detroit deferred compensation plans runs from April 1 through May 15, 2015.  These plans are available to all employees.

The plans allow members to participate in pre-tax retirement savings plans through payroll deduction, to begin in July 2015.

• Members under the age of 50 can contribute an annual maximum of up to $18,000.00
• Members 50 or over can contribute an annual maximum of up to $24,000.00
• Members requirements for pre-retirement catch up can contribute an annual maximum of up to $36,000.00

The following plans are available to all employees:

• MassMutual – Plan 107560.  Contact: (800) 528-9009 or at massmutual.com/Detroit

• Vanguard – Plan 09000.   Contact: (800) 523-1188, press 0# or at http://cod.vanguard-education.com/ekit

• AXA/Equitable – Contact:  Michael Johnson at (248)731-7582 or Jerry Alawan at (313) 506-0456

The following plan is available only to Police and Fire Retirement System members only:

• Voya – Contact: Silburn Tomlin at (248) 208-6002 or Lyons Financial at (248) 253-1140

Please contact the City of Detroit Finance Dept, 2 Woodward Ave, Suite 1216 with specific questions.  Their phone is (313) 224-3310, FAX (313) 224-5506.