Plan Document Changes
Plan Document Changes

 

The Ohio Deferred Compensation Board recently voted to make changes to the Plan Document. These changes help clarify and simplify the document for you. This article serves as notice of these changes. These changes are effective March 1, 2015.

  1. Section 1.03 was added to define automatic enrollment.
  2. Section 1.07 was added to define default deferrals under automatic enrollment.
  3. Section 2.02 was added to allow voluntary employer adoption of an automatic enrollment arrangement for newly hired employees with the ability to also provide auto escalation for these employees. 
  4. Section 2.03 was amended to remove references to minimum deferral amounts.
  5. Section 5.01 was amended to clarify beneficiary determination when no beneficiary form is on file.
If you have questions, contact the Service Center at 877-644-6457.