Scroll down to view the most frequently asked questions we receive and answers we provide.
A: Employees may begin, make changes to or stop their contributions by using the Program's website at Ohio457.org or by contacting the Service Center at 877-644-6457. On the website, employees who want to start contributing to the Program can access the tab labeled "Enroll."
Employees already making contributions to the Program can make changes by logging in to Ohio457.org. Current account information can be reviewed and changes may be submitted. Account information and changes may also be requested by telephone at 877-644-6457.
Account Executives are available for assistance Monday through Friday from 8 a.m.- 4:30 p.m. by calling 877-644-6457 and pressing 3.
Payroll departments are advised of changes on the Payroll Reduction Change Report sent by the Program and not from the employee.
A:Each type of plan has annual contribution limits. An employee contributing to a 403(b) plan will have a contribution limit for that plan that is not considered for other types of plans. Employees may contribute to more than one 457(b) deferred compensation plan as long as the combined contribution total does not exceed the annual contribution limit.
For further information, the employee should contact our Service Center at 877-644-6457 and press 3 to speak with an Account Executive.
A: The chart below shows the annual contribution limits for several years. These limits are subject to change according to IRS rules.
Annual Contribution Limits
2023 Regular Contribution Limit $22,500
Age 50-Plus Contribution Limit $30,000
Catch-up Contribution Limit $45,000
2022 Regular Contribution Limit $20,500
Age 50-Plus Contribution Limit $27,000
Catch-up Contribution Limit $41,000
A: It is best for employees to contact our Service Center for details by calling 877-644-6457.
A: This can happen due to:
To process an investment, Ohio Deferred Compensation must reconcile the total of the detail on the contribution billing to the remitted amount. Employers should make appropriate brief notes on the contribution billing explaining the omission. The total on the contribution billing should be changed to reflect an accurate total.
Note: Employers remitting electronically will show the omission in the detail of the file they remit.
A: The deduction should be taken at the next payroll cycle. If the employee does not wish to "miss" the deduction, the amount may be doubled on the next payroll cycle and then set back to the regular amount thereafter.
A: As long as the employee will not exceed his or her contribution limit for the calendar year, we can accept a missed contribution with the next payroll.
The employer should include a brief explanation for the change on the contribution listing when remittal occurs.
A: Yes. The Ohio Business Gateway (OBG) allows you to file and pay several payroll withholdings, including Ohio Deferred Compensation. You can learn more about how to use the OBG with our Ohio Business Gateway Guide. Visit business.ohio.gov for more information or contact the Finance Department at 614-466-7245 for details.
A: To obtain a refund, a Refund Request Form must be completed with the following information:
Please email the Refund Request Form to:
Refunds are processed within 48 hours of receipt. You can expect to receive a check within 5-7 business days.
A: If the amount received by Ohio Deferred Compensation is less than the amount billed, the lower amount will be accepted.
If the amount received by Ohio Deferred Compensation is more than the amount billed, the higher amount will be accepted as long as it does not cause the employee to exceed the annual contribution limit.
A: To prevent employees who are contributing the maximum amount from exceeding the annual limit, a deduction may not be taken for these employees with the 27th pay.
Normally, you may not change an employee's contribution without a Payroll Reduction Change Report from the Program. However, employers are responsible for stopping or reducing deductions if it is necessary to prevent an employee from exceeding allowable limits.
It is important that you prevent over-contributions before they happen. This will eliminate the need for subsequent refunds, as well as correction to W-2's and related tax forms. If you have questions about this information, please call the Program at 614-466-7245.
Employers may omit contributions for only the employees contributing the maximum amount or they can choose to skip taking the contributions for everyone on the 27th pay.
Any contributions skipped should be reactivated for the first payroll in the new year.
A: Yes. We will need to make changes to our computer system to reflect the correct payroll dates and number of payroll dates in a year.
We bill according to the number of pays from which deferred compensation is withheld. The number of pays might be different than the actual number of pays.
A: Our records need to be updated with the current address and contact information. Employers should convey this information to the Program via mail, telephone, fax or email.
Ohio Deferred Compensation
257 E. Town St., Suite 400
Columbus, OH 43215
A: Documentation of lost wages is needed from the employer. Information specified on the Loss of Income form must be supplied to the Program on the employer's letterhead. This information can then be mailed or faxed to:
Ohio Deferred Compensation
257 E. Town St., Suite 457
Columbus, OH 43215
A: Yes, an employer may match employee contributions to a 457(b) plan subject to the normal annual contribution limits.
A: An employer match program is a relatively low-cost benefit that may help attract and retain quality employees. Employer match programs may also be the incentive needed to motivate your employees to begin saving for retirement.
1. Attracting and retaining employees. An employer match will provide a competitive advantage over many other employers that can help attract and retain quality employees. In addition, several studies have shown that financially secure employees make better, productive employees—a win-win for employees and employers.
2. Lower cost to employer. Because employer match contributions are pre-tax, the same impact on employee take home pay can be achieved at less cost than providing a pay increase.
3. Added value to employees. Most employees are not saving enough for retirement. Employer match plans are a proven way to increase the number of employees saving for retirement while offering employees additional savings at no additional cost
A: No. There is no Plan Document amendment necessary to provide a matching contribution.
A: The simplest way to set up an employer match program is for the employer to provide an additional amount of compensation per pay, i.e. the match, to those employees participating in Ohio DC. The additional compensation is only for those employees actively participating, or who choose to participate, and would be discontinued if an employee cancels his or her contribution.
Ohio DC will keep records for the total amount contributed each pay period. Since a vesting schedule is not permitted, the separate sources of these contributions are not segregated on our system. Ohio DC will bill to the employer for each pay period showing the total contribution amount.
A: Yes. Experience has proven that employers who match contributions on a per-pay basis find it to be the simplest process for both the employer and the Program. Under this scenario, the employer would increase the participating employee's per-pay compensation, which would then become part of the employee’s contribution. This increase is contingent upon the employee actively participating in the Program. If an employee cancels his or her contribution, the employer would simply remove the additional compensation from the employee’s payroll record.
A: Yes. We have employers who provide a one-time, lump-sum match amount. This process is more involved for both the employer and Ohio DC. The employer will need to notify Ohio DC prior to the one-time match, so that both parties are aware of the timing and amount.
The employer must send a listing or data file of employees receiving an employer match separate from the regular payroll contribution listing. Ohio DC will return to the employer any money received for an employee who has separated from service, or who has reached their annual contribution limit. The employer will need to reprocess these funds through payroll as income to the employee.
A: Our Account Executives will enroll participants using the total combined contribution amount from the employer and employee. For instance, if the employee wants to contribute $50 per paycheck and the employer has agreed to match up to $25, the employee should declare a $75 contribution to Ohio DC. Ohio DC will then pre-bill the employer for the full $75.
Ohio DC does not give legal or accounting advice. Employers are ultimately responsible for the correct accounting of taxable income and withholdings.
Employers interested in matching employee contributions may contact the Service Center at 877-644-6457 with further questions.
A: Any public employee who is eligible for membership in one of the State's statutory retirement systems (including the City of Cincinnati retirement system) is eligible to enroll.
If you are an Ohio DC Participant seeking to access your account please click on the "Participant Website" link below. Employers can close this popup to continue.