The City just approved an amendment to our 457 Deferred Compensation Plans
to allow participants to obtain a loan against their accounts.
The Financial Services Department does not have knowledge or experience on
how this program is supposed to work (as we have not met with ICMA
yet)...Our Human Resources Department was the sole "negotiator" for this
amendment.
For those cities who have this type of a plan, could you share your
experience and offer tips on how to successfully implement this program.
Thank you.
Agnes T. Walker
Financial Services Director
City of Redondo Beach
415 Diamond Street
Redondo Beach, CA 90277
(310) 372-1171 ext 2429
Fax (310) 937-6616
