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Deferred Compensation

The 457 Deferred Compensation Plan is a tax-deferred program offered by the County of Monterey through a contracted financial institution. This voluntary plan allows participants to save for retirement now and pay taxes later by a contributing portion of their salaries to the plan through payroll deductions.  These plans are offered to the employees of state and local governments, subdivisions of state governments or certain eligible key employees of tax exempt organizations. 

The current quarter rate (1/1/18 through 3/31/18) on Monterey County's Custom Stable Value Fund (CSVF) or fixed fund is 1.80%.

Ed Lopez
Empower Services
831-682-0014
www.mc457.com

 

Deferred Compensation Plan:

457 Deferred Compensation Plan

Plan Features and Highlights

Top 5 Reasons to Enroll

How to Enroll Online

Start Saving for Your Future

2018 Contribution Limits

Income Sources

Start Saving Now

 

Deferred Compensation Plan Features:

Roth Plan Option

Account Reduction Loan

Selft Directed Accounts

New and Improved Empower Website!

Online Resources

Deferred Compensation Forms:

Access Empower at www.mc457.com to access forms such as Enrollment, Beneficiary Designation, Incoming/Transfer Rollover Request, Distribution/Rollover Request

Monterey County's Policy and Bylaws on Deferred Compensation:

Bylaws of the Deferred Compensation Plan Administrative Committee and Delegations of Additional Responsibilities to the Plan Administrator

Deferred Compensation Plan Investment Policy Statement

If you are interested in finding out more about the 457 Deferred Compensation plan for Monterey County, please contact:

 

 

Paulette Clark
Monterey County Human Resources Department
(831) 755-5456