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Deferred Compensation In addition to your regular retirement plan - run by ACERA, the County offers a deferred compensation plan to its employees. The deferred compensation plan is different and separate from ACERA.The County's deferred compensation plan is governed under Section 457 of the Internal Revenue Code. The deferred compensation plan is a tax-deferred supplemental retirement program that allows you to contribute a portion of your salary, before federal and state taxes to a retirement account. Your participation is voluntary. Federal and California state taxes are payable when the deferred income plus earnings are distributed to you. In most cases your participation in the deferred compensation plan does not affect your County retirement system benefits or Social Security. Your total wages remain the same for both purposes. Amounts you receive from the deferred compensation plan when you retire will not reduce your Social Security benefits. For further information regarding Deferred Compensation, contact the County's Treasure/Tax Collector's office - Deferred Compensation Coordinator at 510-272-6809. |
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