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, 744-6936Elaine Wong, Fire & Police Retirement System, 744-4332Mark Jomsky, City Clerk, 744-4709
The appointed members are:Raphy Timour, Pontrelli, Timour & Associates Vacant
The Committee meets quarterly in the Finance Conference Room. Dates and times are posted and are available by contacting Veronica Jones at (626) 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 Empower - Session 1
April 9, 2012 meeting to discuss changes in plan provider to Empower - Session 2
Power Point presentation from April 9 meetings
Deferred Compensation Investments are provided through Empower Retirement Services. Account services including, roll-outs/roll-ins, transfer between investment options, and requests for hardship withdrawals should be directed to Empower Retirement Services. You may contact Empower several different ways:
The Current rate on the Pasadena Custom Stable Value Fund (Declared Rate) Account is 1.26%.
Ticker symbols for investments are available at: www.cityofpasadena457.com
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.
Deferred Compensation Investment Policy
Self Directed Brokerage Accounts (SBDA)