Human Resources

Deferred Compensation

What is a Deferred Compensation Plan?

The Jackson Community College Deferred Compensation Plan is a supplemental retirement savings program, regulated by Section 457 of the Internal Revenue Code. It is available to all state and JCC employees as well as employees of local governments and school districts that have elected to offer this program.

The Deferred Compensation Plan provides eligible employees with the opportunity to invest a portion of their annual earnings on a tax-deferred basis to supplement retirement income. Section 457 sets forth certain limitations and restrictions that must be followed including the amount of the compensation that can be deferred, as well as when and how account balances can be distributed.
 

How Do I Establish a Deferred Compensation Plan?

  1. Contact AIG (below) for information and/or an application.
  2. Complete the application and return it to the AIG. NOTE: An account must be established with AIG prior to deducting funds from pay.
  3. Complete a 457(b) Salary Reduction Agreement and return it to Payroll in the Business Office.

Employees needing further information may call Marcia Fowle, Payroll Specialist, at (517) 796-8146 or email at FowleMarciaA@jccmi.edu.
 

Deferred Compensation Plan Provider at Jackson Community College

American International Group, Inc.
Phone: (800) 448-2542
Web Address: http://www.aigretirement.com/
Address:

Steve Schuldt
1301 W. Long Lake
Suite 340
Troy, MI  48098-6349 

 

What about the Tax Sheltered Annuity Program?  

For information regarding Jackson Community College's 403(b) participation, visit the Tax Sheltered Annuity Program web page.


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