The City of Portsmouth offers full time employees the option of participating in the 457 Deferred Compensation Plan which is administered by theICMA Retirement Corporation (ICMA-RC).Multiple investment options are available. Employees can contribute a portion of his/her salary, via payroll deduction and on a tax-deferred basis. Accumulated funds in the employee's account are not subject to federal and state income taxes until withdrawn at retirement.
A 457 plan is designed to supplement your retirement income. While a pension and/or Social Security may go a long way,
they are unlikely to be enough. Saving to your 457 plan can help you maintain your desired standard of living. To contribute to your 457 plan or change the amount of you current contributions, complete the forms below, or you may contact your ICMA-RC representative or the City's Human Resource Management Department.