The County of Tulare 457 Deferred Compensation Plan (DCP) is an employee benefit available to Tulare County Employees. The County of Tulare has contracted with Empower Retirement Services to provide administrative services for the 457 Deferred Compensation Plan. The DCP allows eligible employees to supplement any existing retirement and pension benefits by saving and investing before – tax dollars through a voluntary salary contribution. Contribution and any earnings on contributions are tax-deferred until money is withdrawn. Distributions are subject to ordinary income tax.
The ROTH option provides the flexibility to designate your 457(b) elective deferrals as ROTH contributions. All ROTH contributions are made with after-tax dollars.
To receive more information, contact Katerina Soto, Empower Retirement Plan Advisor, at 559-967-2280 or email her at Katerina.Soto@empower.com. You may also visit the Web site at https://participant.empower-retirement.com/participant/#/login or call toll-free at 1-855-756-4738.
Contributions into the DCP account are made through payroll deductions. Employees decide how much to have withheld and invested from each pay check, and it may be as little as $10 or 1% of their pay. Participants do not pay federal or state income tax on the amount deferred into their account or on any investment earnings, until the money is paid out to the employee. Employees may start, stop, increase or decrease deductions at any time.
Please note that employees may only make withdrawals from their DCP account when they are no longer a Tulare County employee.
Click here to go directly to the Auditor/Controller's site for defined contribution information and forms.