Eligibility
All regular and limited-term status employees are eligible to defer their compensation. Post retirees working a limited-term assignment are eligible to continue their deferral as long as they are not separated from employment and are not receiving any payments from their 457 account. Temporary and seasonal employees are not eligible to enroll in the plan.
Deferral amounts
- Participants may select a percentage of their salary or a specific dollar amount to defer from each paycheck.
- There is no minimum contribution amount. Calendar year contribution limits are set by the IRS.
Enrollment and deferral adjustments
When opening a deferral account or if you make a change to your deferral amount, the requested payroll change will take effect at the beginning of the following month.
Deferred compensation EZ enrollment form
Plan benefits
- New enrollment
- Account review
- Retirement planning
- PERS and OPSRP benefits and paperwork
For more information, visit gresham.beready2retire.com
Loans
Active participants may borrow from their deferred compensation plan account.
You may request a general purpose or residential loan.
Loan amounts start at $1000. The maximum loan amount is $50,000 or 50% of your vested account balance. There is a one-time set up fee of $50.
More about loans and repayment requirements
For more information, contact our VOYA representative:
Melinda R. Lewis, CFS
Financial Adviser
200 SW Market Street, Suite 1700
Portland, OR 97201
503-937-0378
800-238-6281
deferredcomp@lewis-stefani.com
Phone and video chat appointments with Melinda can be scheduled online.
To schedule an appointment, visit https://go.oncehub.com/CityofGresham