The City of Portland 457 Deferred Compensation Plan is a voluntary plan available to eligible City of Portland employees. The purpose of the plan is to help employees save for retirement on a tax-deferred basis. Deferred Compensation is allowed and regulated under Internal Revenue Code Section 457 for public employees.
The Deferred Compensation Plan Administrator, located in the Bureau of Human Resources, is responsible for the day to day administration of the Plan.
The City of Portland’s 457 Deferred Compensation Plan is intended to serve as a
supplement to the City’s retirement benefits. The City’s Deferred Compensation Plan
- Administer the Plan in a fair, efficient and effective manner
- Understand and fully operate within the IRS Code Section 457 regulations
- Provide investment options with competitive fees and competitive rates of return.
- Provide a variety of fixed and variable investment options to accommodate
participants’ investment goals.
- Make our best efforts to communicate the program:
- Completely and accurately in order to promote informed decision-making
- Provide participants with complete and accurate disclosure information
- Ensure that participants receive accurate and timely quarterly statements
from their Service Providers