All permanent employees working 18.75 or more hours per week are eligible to
participate. Through a tax code provision, plan participants can add a
supplemental Roth IRA. After-tax contributions may be made not to exceed
$5,000 per year. If age 50 or older, an additional $1000 annual catch-up
contribution may be made. These after-tax contributions can be withdrawn tax
and penalty free. To enroll in the Payroll Deduct Plan, complete the Payroll
Deduction IRA Account application and Payroll Deduction IRA Authorization form
– both available in Human Resources.
Visit
www.icmarc.org for
information about ICMA-RC pension products or to register for account access.
