The City of Oakland 457(b) Plan offers you the option of making pre-tax contributions as well as the option of making Roth (after-tax) contributions to your retirement savings.

To begin or change your contributions to your City of Oakland 457(b) Deferred Compensation Plan, you can simply login at https://www.missionsq.org/login and make this change online. You can also download this form, indicate your changes, print and submit it to your employer (Note: You should use this form only if you have previously established an account with the 457(b) plan).

457(b) Deferred Compensation Plan Contribution Change Form

Your 457(b) plan allows you to increase, decrease, stop and restart contributions as often as you wish, without fees or penalties. You may defer each year a maximum of 100% of your gross compensation* or an annual dollar limit, whichever is less. To view current year contribution limits, please visit www.missionsq.org/contributionlimits.

* Your gross compensation must first be reduced by any mandatory pre-tax ("picked-up") employee 401 plan contributions.

Catch-Up Provisions

The 457(b) plan offers two "Catch-Up" provisions which allow you to contribute over-and-above the normal annual contribution amount.

The age-50 catch-up provision allows you to contribute an additional annual amount when you reach age-50 or older. Participants aged 60, 61, 62 and 63 can contribute an additional amount on top of the normal (not age-50) limit*.

The normal (or "pre-retirement") catch-up provision allows you to make additional contributions to make up for years in which you did not contribute the maximum that you were eligible to contribute under your current employer's 457(b) plan.

Please visit www.missionsq.org/contributionlimits to view the current age 50 and pre-retirement catch-up contribution limits.

For more information on either of the catch-up provisions, please review the 457(b) Deferred Compensation Plan Catch-Up Provision Plan Packet or call MissionSquare Retirement Participant Services at (800) 669-7400.

*As per a change via SECURE 2.0, a higher catch-up contribution limit applies for employees aged 60, 61, 62 and 63. For 2025, this higher catch-up contribution limit is $11,250. This option is effective as of January 1, 2025 for plans that elect to adopt it. Limitations may apply as defined by the plan. Please contact your plan administrator should you require additional information.