Enjoy Guaranteed Long-term Earnings with Advantis
If you’re eligible to participate in the City of Portland’s 457(b) program, then you can choose the Advantis plan and enjoy a competitive interest rate and guaranteed long-term earnings. The 457(b) account can be an excellent supplement to your pension and Social Security benefits and includes no set up fee, withdrawal fee or annual maintenance fee!
Traditional Deferred Compensation Option
You can opt for a traditional deferred compensation account which lowers your taxable income by deferring a portion of your wages each pay period until withdrawal.
If your employer’s plan permits, you may also contribute after-tax funds to a Roth account. While contributions are made with after-tax dollars, qualified distributions from a Roth are tax-free. Participants can contribute to both account options and may allocate the contributions in any proportion up to the annual maximum set by the IRS.
The maximum amount you can contribute to your 457(b) account in 2013 is $17,500. This limit is set by the IRS and may change each year based on cost of living adjustments. Your employer sponsors and administers your plan and will set minimum contribution limits as well as determine when you can change your contribution amounts or switch investment providers.
Safe and Insured
Your Advantis 457(b) account is guaranteed to not lose value due to market fluctuations. All of your 457 (b) plan accounts at Advantis are combined and insured up to $250,000 by the National Credit Union Administration (an agency of the federal government).
Read the complete guidelines, view current rates, and see our rate history here:
Guidelines View Rates See Rate History
To open an account today fill out the forms below or contact a Deferred Compensation Specialist at
Deferred Compensation/457(b) Forms
Click on the links below to download each form and return them to Advantis Credit Union. Please only use these forms if you are a City of Portland Employee.
*Distributions from your traditional deferred compensation account upon retirement, severance of employment or unforeseeable emergency are subject to federal and (if applicable) state income tax. Distributions from a Roth account upon retirement, severance of employment or unforeseeable emergency are excluded from your gross income if your first Roth contribution occurred at least 5 years before the withdrawal and you have experienced one of the following: turning 59 ½ years of age, death or disability. All other withdrawals from a Roth are partially taxable. Federally insured by the NCUA.