All changes to Deferred Compensation deduction
amounts are effective the following month, depending on
timing. Consut with payroll for questions.
The annual contribution limits for the City of Mesa's
Deferred Compensation Plan are set by the Internal
Revenue Service. When contributing the maximum amount to
deferred compensation, a change form must be completed
each year indicating the amount of your biweekly
To calculate the biweekly deduction, take the annual
limit less the estimated annual city contribution.
Divide that total by the number of payrolls in the
calendar year. If you wish to have payroll calculate
this figure, indicate the annual dollar amount on the
change form or contact us at 644-2389.
Please note that percentage elections are not
suggested when maximizing your deferred compensation.
Compensation Plan Annual
- Employees cannot participate in both the
Catch-Up and the Age 50 Catch-Up provisions at the
- Annual limits cannot exceed a combination of
both employee and employer contributions.
- Full-time employment, 1 (one) year of service,
and a minimum of $10 contribution meets employer
Change Contributions or
Deferred Compensation Payroll Change
form for the City of Mesa's 457 Deferred Compensation
Plan allows changes to be made in the amount deducted
for this purpose. Please contact your deferred
compensation provider or the Payroll
Office to change a beneficiary.
The effective date for deferred compensation changes is
the first payroll of the following month.
Important: If you have not enrolled with a deferred
compensation provider, there are additional forms which
must be completed prior to submitting this form; see
Provider List. If you have any questions, you may
also contact a Payroll representative at 644-2389.
To Stop Contributions to the City of Mesa's 457
Deferred Compensation Plan, please print, complete, and
forward a completed/signed original
Deferred Comp Stop form to the Payroll Office for
Important: If you stop your
contributions to deferred compensation, you will not
receive the City benefit contribution of one-half
percent (.5%) of your base pay. To receive this benefit,
you must contribute a minimum of $10 per pay period.
Please complete a
Deferred Compensation Change
form if you wish to
reduce your contributions.