Contribution Limits
You may contribute between 1% and 80% of your monthly gross compensation on a before-tax or Roth after-tax basis, provided the amount does not exceed the current IRS annual contribution limits of $22,500 in 2023, and thereafter as indexed for inflation. Please refer to www.voya.com/IRSlimits for current limitations. Learn more about the differences between before-tax and Roth after-tax contributions at www.voyadelivers.com/roth or by downloading this comparison.

Roth Contributions
Roth contributions are made on an after-tax basis. This means your Roth contributions are taxed before they’re invested. In exchange for paying taxes now, you may be able to withdraw your Roth contributions and any earnings tax-free when you retire (qualifying factors apply). You’re trading a current tax benefit for a future tax benefit, but does this trade-off make sense for you? It primarily depends on whether you think your federal income tax rate will be higher at retirement, or lower.

Roth contributions may be especially beneficial to younger employees who may be in a lower tax bracket because they can take advantage of the lower tax rate now and have the benefit of time to allow any earnings on Roth contributions to grow (tax-free) while avoiding paying higher taxes in the future when more income might be earned. It is also important to consider that most governmental employees retiree with a pension that can be 50% of more of their final average salary and that pension distributions will be taxable, in addition to a percentage of social security benefits that may be earned.

Learn more about the differences between before-tax and Roth after-tax contributions by considering the information in this comparison/flyer.

Catch Up Contributions
Employees who have not contributed at the maximum deferral rate may be permitted to make extra "Special 3-Year Catch Up" contributions to the Plan in the three years prior to attaining their normal retirement age. The total amount of contributions (normal and catch-up) cannot exceed IRS contribution limits ($45,000 in 2023). If you are interested in participating in the catch-up program, please contact the Information Line at 844-360-MDCP (844-360-6327).

Employees who are age 50 or older, and contribute to the annual limit, may also be eligible to contribute an additional $7,500 in 2023 and thereafter as indexed for inflation. Please refer to www.voya.com/IRSlimits for current limitations.

You may not participate in the Age 50 and Over Catch-Up and the Special 3-Year Catch Up described above in the same calendar year. You may change your contribution amount or stop contributions at any time through the Contributions section of this website (note, to access this section, you first need to log in to your Voya account) by selecting Change Contributions or by calling the Information Line at 844-360-MDCP (844-360-6327).

One-time Deferral Changes
If you wish to make one-time deferral changes for back pay, sick leave, terminal leave, etc., on a specific payroll date, you may refer to the attached payroll deduction schedule to make your election.

If you wish to change your deferral amount after your one-time election, you must call or log back in within the window for the next payroll cycle.

You will be sent a confirmation either by mail or email depending on your preferences.