We’re here to help! Enrolling in the plan is simple, but investing for your life goals requires you to be informed. To help guide you through the enrollment process, please contact a representative.
Before Enrolling in the plan, you should:
- Understand the plan features
- Review the Investment Options offered
- Understand the Investment Option Performance
Enrollment meetings are held throughout the County on an ongoing basis. These meetings provide information about the benefits of participation in the Plan, the features of the Plan, investment options and Voya Financial® services. You can complete enrollment materials at the meetings. Local financial advisors are also available for one-on-one meetings if you have specific questions that you would like answered in a more comfortable setting.
Who Should Join the Plan?
The Plan is designed to supplement retirement income. Unlike an ordinary savings account, it does not allow withdrawals at any time. Once you join the Plan, there are restrictions on when you can withdraw your account balance. Therefore, before deciding whether to join the Plan, you should answer the following questions:
- Do I have adequate savings for emergencies?
- Do I have adequate savings for other financial goals (e.g., purchase of a home, children’s college expenses)?
- Am I current with my bills and credit cards?
- Can I afford to reduce my take home pay?
- Would I like to pay less income tax in the current year?
- Do I want to increase my retirement income?
If you can answer yes to all of these questions, you should consider joining the Plan. If your financial situation is such that you should not join at this time, you may always join in the future when your financial situation improves.
Am I Eligible to Participate in the Plan?
The Plan is a voluntary and available to the following employees of the County:
- Regular, represented (Union) employees become eligible after completing 30 days of continuing (continuous) service in a regular position.
- Regular, non-represented (Non-Union) employees become eligible after completing 30 days of continuing service in a regular position
County Personnel Rule 1-10 defines a Regular Position: A county service position budgeted for each fiscal year that is not (otherwise) classified as temporary, on-call, or limited duration.
If the County receives a court order to withhold your wages for any reason—garnishment, bankruptcy, support arrears, etc.—your eligibility ceases. Once the court order has been satisfied, you may participate again.
If you are granted an unforeseeable emergency withdrawal, you will become ineligible to participate for 1 year from the date the withdrawal was approved.
Any eligible employee may elect to participate in the Plan and defer a specified dollar amount or percentage of future compensation. To participate, you must defer a minimum of 1% of your compensation.
How to Enroll:
Before enrolling online, be prepared to provide the following:
- The amount or percentage of pay that you wish to contribute to the Plan: The calculators in the Resource Center portion of this website can help you calculate the impact of different contribution levels on your take-home pay. If you need help selecting contribution rates, contact Voya’s local Portland office for assistance at (503) 937-0378 or toll-free at (800) 238-6281
- The name of each person you wish to designate as your beneficiary: You may submit up to 10 beneficiaries online. If you have more than 10 beneficiaries, we suggest you contact Voya’s local Portland office for assistance. While enrolling online, you will be offered electronic copies of the “Participant Information Booklet,” investment fact sheets, and other documents we are required by law to provide at enrollment. If you would prefer to review a hard copy of these materials, you can request them by contacting Voya’s local Portland office.
If you do not qualify for Auto Enrollment, there are three ways to enroll in the plan:
- Meet with your local Voya financial advisor. Review your personal situation and complete the appropriate paperwork to specify your deferral amount and designate your beneficiary. You will also fill out an Enrollment Form to select your investments. Completed forms are processed by Voya’s local Portland office and sent to the County. Please contact Voya’s local Portland office for assistance at (503) 937-0378 or toll-free at (800) 238-6281. Office hours are 8:30 a.m. through 5:00 p.m. (PST).
- Complete the online enrollment process. Online enrollment is a quick and easy process. To get started, select the “Enroll Now” button at the top of this page.
- EZ Enrollment. Complete the simplified Multnomah EZ Enrollment/Participation Agreement. You’ll provide some basic information about yourself, choose your deferral amount, and designate your Plan beneficiary. Your contributions will automatically be invested in one of the Plan’s Target Date Funds, (based on your date of birth), as designated by the County. To request a Multnomah EZ Enrollment kit or change your investments once you are enrolled, contact Voya’s local Portland office for assistance at (503) 937-0378 or toll-free at (800) 238-6281. You can also change your investments by logging into your account on this website.
Important Information: Variable investment options are considered long-term investments designed for retirement purposes. Money taken from the plan will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions and when redeemed, the principal may be worth more or less than the amount originally invested.
Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. Securities are distributed by Voya Financial Partners LLC (member SIPC). All companies are members of the Voya® family of companies. Securities may also be distributed through other broker-dealers with which Voya has selling agreements. Insurance obligations are the responsibility of each individual company. Product and services may not be available in all states.