Deferred Compensation

As previously announced, the County moved to a new Service Provider, Empower Retirement, effective July 29, 2019. To access the Contra Costa County custom Empower Retirement website, click here www.contracosta457.com

The Schwab Self-directed Brokerage account is still available. For more information about this account, click here Schwab Self-directed Brokerage Letter (PDF)

For more information about the new Investment Lineup, click here Fund Fact Sheets. In addition, you may also reference the Transition Bulletin (pages 3-5) for details regarding the fund mapping process.

One-on-one Counseling Sessions: Schedule a Retirement Readiness Review, at no cost to you by clicking here.

Deferred Compensation Plan

The County offers a voluntary Deferred Compensation Plan in accordance with Section 457 of the Internal Revenue Code. Participants of the program select a designated monthly amount to deduct from their paychecks and then select investment options.

The Deferred Compensation Plan is a supplemental retirement plan option in addition to your County retirement plan. Consequently, while you may stop your deductions at any time, you may not have access to the monies until you have separated from County service.

Some positions are eligible for a county paid contribution to their Deferred Compensation Plan, depending on their MOU or Management Resolution.

Deferred Compensation Plan - Special Benefit for New Hires

New Hires: The County will contribute one hundred fifty dollars ($150) per month to an eligible employee's account in Contra Costa Deferred Compensation Plan when the employee defers twenty five dollars.

Eligibility

See information below to enroll in the Deferred Compensation Plan.

Annual Elective Deferral Limits

Annual Elective Deferral Limits are determined by IRS. Go to LIMITS.