The 3121 Deferred Compensation Plan is a mandatory "retirement plan" for part time, seasonal and temporary employees of Tulare County. This deduction is in lieu of Social Security.
Withdrawals from the 3121 Plan may only be made under the following qualifying events:
1. Separation of Service from Tulare County - Withdrawals may be made but only if the employee has no intention of returning to employment with Tulare County for twelve months following the separation.
2. If, upon becoming a regular employee with Tulare County, the 3121 account balance is $5,000 or less and no contributions have been made to the plan for 24 months, a full withdrawal of the account may be made under the Di Minimis rule.
Please note: The 3121 Deferred Compensation plan has no provision for emergency hardship withdrawals or loans.