Get SMarT about your finances
Ohio Deferred Compensation offers you smart alternatives when saving for retirement.
If you’re planning for your retirement, you might be unsure about how much you’ll really need to save. Ohio DC offers you options to help you take control of your retirement planning. Now might be a great time of year to make changes.
Here are a couple of simple ways to give your savings a boost:
- Annual savings increase—The SMarT Plan
Ohio DC allows automatic deferral increases every year by an amount that you specify. This can be adjusted at any time. Enroll in the SMarT Plan today!
- Higher deferral limits
If you are approaching retirement, you have higher limits for contributing to your account.
- Age 50+: This is a great opportunity if you are 50 or older. A maximum of $6,000 can be contributed to your account–in addition to your annual $18,500 contribution limit.1
- Traditional Catch-up: If you are within three years of normal retirement age, and if you have not contributed the maximum amount every year in the past, you might be able to defer up to two times the normal contribution limit for a total of $37,000.
To learn more about any of these options for giving your savings a boost in the new year, call our Service Center to speak with an Account Executive at 877-644-6457.
1 IRS.gov - IR-2017-177, Oct. 19, 2017
Account Executives are Registered Representatives of Nationwide Investment Services Corporation, member FINRA.