DEFERRED COMP UPDATES

457 LB
(Deferred Compensation Plan)

By investing in your deferred compensation plan, you have taken a great first step towards saving for your retirement. But what happens to your financial plans if you have not selected a beneficiary? Even the best laid plans can come up short if you do not consider the importance of designating a beneficiary.

While we often dream about the exciting activities we will experience with family and friends once we retire, what may happen to those plans if you are gone? Will your family have seamless access to your deferred compensation savings? Ensure your wishes are followed by designating a beneficiary today.

You can designate a Primary and/or Contingent beneficiary through the The Long Beach ICMA website www.457LongBeach.org. Do not wait until its too late. And this is also a great time to look at all your beneficiary info for your accounts. (CalPERS, checking, savings, life insurance, etc.)

If you have questions regarding online access to add and/or change your deferred compensation beneficiary information, please feel free to contact Ms. Tisha Neal, the City of Long Beach’s Retirement Plans Specialist at (562) 570-7988 or toll free (866) 731-1061.

Next issue: Financial Planning opportunities through ICMA

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