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Deferred Compensation
Deferred Compensation Program
Employees have the option to participate in a choice of IRS 457 deferred compensation plans. Deferred compensation is a program that allows you to invest today for your retirement.
Some benefits of an employer 457 deferred compensation plan are:
- Reducing your current income taxes, while investing for retirement
- Earnings accumulate tax-deferred
- Convenient payroll deductions
- It's portable if you change jobs
- There is no penalty for early withdrawals if you leave service or retire
Accessing your Nationwide Deferred Compensation Plan
3 ways to to access your account with the deferred compensation provider.
Employees can enroll, make contribution changes, update address/phone/name information, and change beneficiary information online, over the phone, or directly with your retirement specialist.
| Online | Toll Free | Plan Representative |
|---|---|---|
| Nationwide Pierce County |
1-844-547-8405 | Contact your local plan representative to ask a question or schedule a meeting |
| Account access online 1. Go to Nationwide Pierce County site 2. Select Sign Up for an Online Account. For security reasons, never share your Web password or PIN with any other person. |
1. Enter your Social Security Number. 2. Use your date of birth for your initial Personal Identification Number (PIN); for example, if your birthday is Feb. 15, 1972, your PIN is 02151972. 3. Create a new four-digit PIN at the next prompt, this is your PIN you will use in the future |
Mike Ferguson 509-385-7825 Fergusm9@nationwide.com To make an appointment at the CCB or Annex, go to the online scheduler to see the next available time. |
Maximum Contribution Rates
| Age | 2009-2011 | 2012 | 2013 & 2014 | 2015 -2017 | 2018 |
|---|---|---|---|---|---|
| Under 50 | $16,500 | $17,000 | $17,500 | $18,000 | $18,500 |
| 50 and over | $22,000 | $22,500 | $23,000 |
$24,000 | $24,500 |
Hardship Withdrawal
To apply for a hardship withdrawal you will need to complete the Nationwide Hardship Withdrawl Application return the completed forms along with copies of any documentation which supports the reason and amount for the request to Nationwide Retirement Solutions.