The Oregon Savings Growth Plan (OSGP) is a 457 deferred compensation plan that provides you with a convenient way to save for your retirement. It allows you to contribute a portion of your salary from an OSGP participating employer on a pre-tax basis. Your contributions plus earnings continue to grow on a tax-deferred basis until you receive a distribution. OCCC employees may elect this retirement savings plan at any time during the year. The plan is administered through PERS, and several different investment options are available. 

You may contribute up to the maximum annual contribution into both a tax deferred annuity plan (403b) and the OSGP (457) at the same time. OSGP allows you to make changes to contributions and investment options on a regular basis. OCCC will periodically host a representative from OSGP to hold informational sessions and assist employees who have questions and employees can also learn more about OSGP anytime, virtually. 

> For more information or to obtain an enrollment packet visit growyourtomorrow.com. 

> Employees who are ready to enroll can turn in an enrollment form to directly to Human Resources.

• OGSP onsite May 12, 2023 

All OCCC employees, including student employees, are eligible to participate in the TSA program and can enroll at any time. The TSA program allows OCCC employees to make voluntary, pre-tax or post-tax investments toward retirement under IRS code 403(b).  Employees establish an account and then complete a salary reduction agreement form to have a specified dollar amount or percentage of gross pay deducted each pay period.

A tax deferred annuity (also called a tax sheltered annuity) is a 403(b) retirement savings plan. A 403(b) plan allows you to set aside money for your future retirement security, via payroll deduction while you are still working. Deductions are taken on a pre-tax basis so you save tax money now by reducing your taxable gross income or deductions can be taken post-tax and saves you money by already having paid the tax. 

Once deducted, your contributions are sent to the college approved investment vendor of your choice. Your account will be invested as you have directed and interest earnings will be added to your balance. You are always 100% vested in your account, but withdrawal of monies prior to retirement is restricted and carries penalties dictated by the IRS. 


For more information on how to sign up, learn about approved investment vendors and account setup contact joy.gutknecht@oregoncoast.edu. 

Approved Vendors Include

• TIAA-CREF
• Vanguard  
• LPL Financial- contact details below
  
  • Kjerulf.Goto
       Steven Goto
       Whitney Murray
  • 421 Water Ave Ne Suite 4100
    Albany, OR 97321
    (541) 967-9328

Planning your retirement

Estimating how much your social security benefits will be

Using Multilanguage for social security information