Deferred Compensation
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, 744-6936
Yesenia Alvarado, City Manager, 744-7033
Mark Jomsky, City Clerk, 744-4709
The appointed members are:
Raphy Timour, – Pontrelli, Timour & Associates
David Goodrich, Parsons
The Committee meets quarterly in the Finance Conference Room. Dates and times are posted and are available by contacting Veronica Jones at 744-4351.
The Def. Comp. Plan is administered by the Department of Finance.
The Director of Finance, is the Plan Administrator.
Hartford Life
Deferred Compensation Investments are provided through the Hartford. Account services including the increase or decrease of deferral amounts, roll-outs/roll-ins, transfer between investment options, and requests for hardship withdrawals should be directed to Hartford. You may contact Hartford several different ways:
Online at www.retire.hartfordlife.com
Hartford's call center (800) 528-9009
Darryl Shafer, Pasadena's local Hartford account representative (714) 342-1344. Darryl routinely visits city offices. For dates, times and locations contact the Department of Finance.
Additionally, Guy Horner of the Horner Johnson Group (800) 933-6170 is available to provide individual investment advice. Guy and his associates have developed a model asset allocation which is updated from time to time to reflect changes in the investment climate.
The Current rate on the Hartford General (Declared Rate) Account is 3%.
Want to increase or decrease your deferrals or change beneficiaries? Click here to get a copy of the Change Form. Need to make a withdrawal request due to Retirement, Termination, Unforeseen Emergency, Divorce, or upon reaching 70 1/2 years of age? Click here to get a copy of the Withdrawal Request Form.
Click here to get the Ticker symbols for investment options.
Purchase of PERS service credit
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.
Other Links: