Effective January 1, 2012, new hired Local 88 employees (with benefits - excludes temps & on-calls) will be automatically enrolled in the County’s Deferred Compensation program.  The minimum deduction is one percent (1%) of your pre-tax wages.  Your pre-tax deduction will be invested in the Wells Fargo Advantage Dow Jones Target Fund based on your date of birth.  If you wish to not participate then you need to follow the instructions below under Opt-out.

NOTE: ONLY new County hires who hire directly into Local 88 representation will be auto enrolled.  Auto enrollment does not apply to employees who are "rehired" or "transferred into a Local 88" representation position. 

You are automatically enrolled into the Plan.

Paycheck You Will See Deduction Start On – Unless Opt-out Form Is Received

Employee hired between the 1st & 15th of January
No deduction on 1st pay check (Jan 31st)
No deduction on 2nd pay check (Feb15th)
Deduction starts on 3rd pay check (Feb 28th)
 

Employee hired between the 16th & 31st of January
No deduction on 1st pay check (Feb 15th )
No deduction on 2nd pay check (Feb 28th)
Deduction starts on 3rd pay check (Mar 15th)

To OPT-Out.

If you chose NOT to participate, in the County’s Deferred Comp Plan you MUST either:

A 4 digit Personal Identification Number (PIN) has been established for you, which is the MMYR of the date of your birth. You will need your PIN and Social Security Number to use our Internet services.  You will then be required to create a User ID and Password.

OR

  • Call the ING Customer Service at 800 584 6001

A Personal Identification Number (PIN) has been established for you, which is the mmyy of the date of your birth. You will need your PIN and Social Security Number to use our Customer Service Line.

  • Deadline is 31 days from your hire date to Opt-Out before deduction is automatically deducted from your check.

If NO Action is Taken

  • If no opt out request is received from you the 1% deduction will be deducted automatically from your check.
  • Your pre-tax deduction will be invested in the Wells Fargo Advantage Dow Jones Target Fund based on your date of birth.
  • If deduction is taken, it will not be refunded to you unless you meet the 2 year De minimus rule or you terminate employment with the County.  (De minimus Rule - No deductions for a 2 year period and balance is under $5,000.)

Once Participating You May:

  • Increase, decrease or stop/restart your contributions at anytime
  • Adjust allocations to any of the funds offered in the plan
  • Choose between pre-tax and/or post-tax (Roth) contributions

Contact

  • For questions and more information call the ING local Office at 503 937 0378.  You will receive a welcome packet with additional details of the County’s Deferred Compensation Plan and the ability to meet with a financial adviser.

Your Date of Birth

Fund #

Fund Name

Prior to 1949

7146

Wells Fargo Advantage Dow Jones Target Today FundSM- Inst Cl

Between 01/01/1950 and 12/31/1959

7147

Wells Fargo Advantage Dow Jones Target 2020 FundSM - Inst Cl

Between 01/01/1960 and 12/31/1969

7651

Wells Fargo Advantage Dow Jones Target 2030 FundSM - Inst Cl

Between 01/01/1970 and 12/31/1979

7145

Wells Fargo Advantage Dow Jones Target 2040 FundSM - Inst Cl

After 01/01/1980

7153

Wells Fargo Advantage Dow Jones Target 2050 FundSM - Inst Cl

For questions and more information call the ING local Office at 503 937 0378.  You will receive a welcome packet with additional details of the County’s Deferred Compensation Plan and the ability to meet with a financial adviser.