Dear City Employee,
You have received this email because you are currently eligible or will soon become eligible to retire from the City of Phoenix. We know that a number of employees were waiting for labor negotiations to be completed before deciding whether retirement is something they will consider in the near future. If you are weighing this decision, you’ll want to understand more about the retirement process, retiree benefits, and recent changes to the City’s 401(a) Plan that impact how final wages, sick leave, vacation and compensatory time are cashed out as well as the requirements for submitting forms to Nationwide Retirement Solutions for final pay deferrals to the 457 Plan.
Staff from Human Resources, Retirement and Nationwide will provide information for employees to make informed decisions regarding retirement options. Five Retirement Information Sessions are scheduled in the City Council Chambers:
Thursday, May 22, 2014: 9:00 to 11:00 and 1:00 to 3:00
Tuesday, May 27, 2014: 9:00 to 11:00; 12:00 to 2:00 and 2:00 to 4:00
No registration is necessary. Attendance is on a first come – first serve basis.
IF YOU ARE RETIRING IN THE MONTH OF JUNE, AND WISH TO DEFER SOME OR ALL OF YOUR FINAL CHECK OR YOUR VACATION AND COMPENSATORY TIME CASHOUTS, YOUR COMPLETED DEFERRAL FORM MUST BE RECEIVED BY NATIONWIDE RETIREMENT SOLUTIONS BY 5:00 P.M. ON TUESDAY, MAY 27TH. (Please note that this deadline has been extended from the prior May 15th deadline.) Please note that the IRS requires that you submit the form in the month prior to the month in which you retire. For your convenience, we have included the form as an attachment to this email. The form is also available on the City of Phoenix Deferred Compensation website: www.phoenixdcp.com under the Support & Forms tab. Questions related to the form or the City’s deferred compensation plans may be directed to Nationwide Retirement Solutions at 602-266-2733.
Nationwide Retirement Solutions will have staff on site for appointments three days each week beginning on Thursday, May 22nd. These appointments will take place in the Personnel Building, Benefits Office, 135 N. 2nd Avenue. Meetings are by appointment only and can be scheduled by selecting an available time via the following link http://phoenixdcp.MyRetirementAppt.com or by calling 602-266-2733.