Roth Contributions
We are excited to announce that your 457(b) Deferred Compensation Plan now offers Roth (after-tax) contributions. You can start making Roth contributions in your 457(b) plan today, regardless of your age or income. Log in to LifeViewHR with your City-issued computer to update your contribution elections.
Benefits of Roth Contributions:
Tax-Free Withdrawals:
Withdraw contributions and earnings tax-free in retirement if you're over 59½ and five years have passed since Jan.1 of the year of your first Roth contribution.
Tax Planning Flexibility:
Having both pre-tax and Roth assets as sources of retirement income creates additional flexibility when you are managing tax liabilities in retirement.
Age-Based Catch-Up Contributions:
Starting in 2026, employees age 50 and older who earned over $150,000 in Social Security wages in the prior year may elect to make catch-up contributions. If they do, those contributions must be made on a Roth basis.
