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Addition Financial Deferred Plan Home

Addition Financial Deferred Plan Home

Addition Financial is now offering all OCPS employees, with the exception of non-benefited hourly employees, a deferred payment plan. This plan will allow employees to save money in an interest bearing account with as little as $20.00 per pay period. This money is accessible during the summer months when you need it most!

Date of Maturity

All funds that have been deducted during the school year and applied to the Deferred Option Plan will become available on the date of maturity. These funds can be accessed through your savings account established with Addition Financial. 

The maturity date for the 2024-2025 school year is July 1, 2025.

What are differences regarding OCPS’s Deferred Deduction and the Addition Financial Deferred Option Plan for instructional employees? 

OCPS

Addition Financial

Limited access to funds

Unlimited access to funds deposited

Access only during office hours

Call Center and Internet Access including weekend inquiries

No Interest

0.15% on Deferred Option Plan and 0.01% on Share Savings 
*rates are subject to change*

Percentage Only (11%, 12%, 13%, 14%)

Dollar Amount

$46.00 Minimum Payroll Deduction (11%)

$20.00 Minimum Payroll Deduction

Must withdraw All Funds and cannot contribute to the Deferred Plan until next school year.

May withdraw a Portion of the Funds deposited and may continue to contribute for the remaining school year.

Important Message

If you currently have a payroll deduction with Addition Financial, make sure to include it in the total sum to be deducted from your salary, as this authorization will override any previous payroll deductions you have authorized with Addition Financial. 

How can I determine the bi-weekly deduction and/or the total dollar amount available at the end of the school year? 

Deferred Payout

Deferred Deduction

$5,000.00

$250.00

$4,500.00

$225.00

$4,000.00

$200.00

$3,500.00

$175.00

$3,000.00

$150.00

$2,500.00

$125.00

$2,000.00

$100.00

$1,500.00

$ 75.00

$1,000.00

$ 50.00

$ 500.00

$ 25.00

$ 400.00

$ 20.00


Note: This chart is based on 20 payroll deductions beginning on the first check in September through June. If enrollment occurs mid-year, the total number of deductions will be less.

Related Information

   .pdf

   .xlsx

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