It’s easy to participate in the County of San Diego Deferred Compensation Program. You can get started right away.
Get paper enrollment forms:
Not ready to sign up yet? Get more info about how deferred comp works and what your options are first.
If eligible, you may elect to participate in either the County of San Diego 457(b) Deferred Compensation Plan (PDF) or the 401(a) Incentive Retirement Deferred Compensation Plan (PDF) — or both. Participation in these plans can help bridge the gap between the income from your pension plus your Social Security benefits and how much you’ll need in retirement.
Here are four reasons why it’s smart to participate in the County of San Diego Program:
- You set the amount — Participating in the County of San Diego Program will work whether you’re approaching retirement or just getting started saving. This is because time and compounding work together to help build momentum for your money. The sooner you start, the more you could have at retirement.
- Every little bit helps — Your savings could really add up over time. And if you bump up contributions on a regular basis to your 457 plan account, the overall impact to your paycheck may not seem painful. Consider putting raises or bonuses into deferred comp — it’s an easy way to save a little more.
- Use the Future Value Calculator to see how much retirement savings you possibly could have at retirement
- This plan is made for you — Unlike other retirement plans, deferred comp takes into account that you may retire sooner than workers in the private sector. Generally, you don’t have to worry about paying a penalty for retiring early or beginning to take income from the plan before age 59½. Withdrawals are taxable to you in the year the payments are made.
You may want to consider the benefits of consolidating your retirement assets held outside the County of San Diego Program into your 457(b) plan account.
Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including their fees and when you can access funds. If you withdraw assets rolled over from your account(s), the withdrawal may be subject to surrender charges, other fees and an additional 10% tax penalty if you’re under the age of 59½. Nationwide and its representatives do not give legal or tax advice. Please contact your legal or tax advisor for such advice.
- You’ll get service you can count on — Nationwide® has non-commissioned Retirement Specialists ready and willing to answer your questions. We’ve been helping public sector employees save for retirement for more than 30 years, and our Retirement Specialists have helped educate thousands of employees about investing through their retirement plans. Feel free to call today — we don’t charge a fee to work with a Retirement Specialist.
- Read more about why the County and Nationwide might be right for you.
Get the help you need
The sooner you enroll, the more you can possibly save, so talk with a Retirement Specialist about your options. Take a look at the Enrollment Checklist to see what you’ll need to have handy and enroll today. The information they provide is for educational purposes only and is not intended as legal, tax or investment advice.
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How do I choose investment options?
The County of San Diego provides access to a wide range of investment options to meet your retirement planning needs. You have the same menu of investment options in all three plans:
- 457(b) Traditional Deferred Compensation Plan (pre-tax)
- 457(b) Roth Deferred Compensation Plan (after-tax)
- 401(a) Incentive Retirement Deferred Compensation Plan
When you enroll in your retirement plan, you will be given the opportunity to select how your contributions will be invested. If you don’t select your investments, you will be invested in the target date fund closest to the year that you will turn age 65.
Keep in mind that investing involves market risk, including possible loss of principal. As you get started in the plan, we’ll help you understand market risk and strategies that may help you deal with it.
We offer multiple investing approaches to help you plan for and live in retirement. Of course, you are never on your own. We’re here to help. We offer different levels of assistance so you can get the help you need.
Target Date Fund – Help me do it investing
Target Date Funds are portfolios of funds that include an asset allocation mix (stocks, bonds, cash and cash-like products) that adjusts along a glidepath so that the further you are from the target date, the more aggressive the mix of investments; the closer you get to the retirement date or target date, the more conservative the allocation becomes. This type of investing does not consider individual risk tolerance. If you don’t select your investments, you will be invested in the target date fund closest to the year that you will turn age 65.
Target Date Funds invest in a wide variety of underlying funds to help reduce investment risk. Target Maturity Funds are designed for people who plan to withdrawal funds during or near a specific year. Like other funds, target date funds are subject to market risk and loss. Loss of principal can occur at any time, including before, at or after the target date. There is no guarantee that target date funds will provide enough income for retirement.
Your own strategy – Do it yourself investing
If you want to do it on your own, use My Investment Planner. This tool helps you determine your investor profile and a suggested asset allocation based on that profile. Then check out the complete list of funds offered and their current performance to help you decide. Just remember we’re always here if you have questions.
A flexible option for investors who want to be active in the investment process but also want guidance when they need it is available through My Investment Planner, a tool offered through Nationwide Investment Advisors LLC (NIA) in concert with Wilshire Associates (Wilshire). You can answer a questionnaire and see specific fund recommendation profiles developed using the Wilshire Investments online tool, then decide to implement or modify the recommendations provided. Remember to check in regularly to make sure you are on track to reach your investment goals. Log in to your account to take advantage of the Tool.
Keep in mind that investing involves market risk, including possible loss of principal. NIA, a Nationwide affiliate, is an SEC-registered investment adviser.
ProAccount - Do it for me investing
Nationwide ProAccount® is a managed account service, available for an additional fee, designed to help take the guesswork out of retirement investing. With Nationwide ProAccount, your investments are selected for you based on your age and risk tolerance, then monitored and adjusted over time to keep you on track toward your retirement goals. Nationwide ProAccount gives you:
- Professional investment management working to ensure that your account has a well-diversified asset allocation, based on your time horizon and personal tolerance for market risk
- Periodic portfolio adjustments as market conditions change
- Expert investment guidance of Wilshire as the Independent Financial Expert, retained by and provided through NIA
There is an expense for this professional management service, deducted from your account balance on a quarterly basis and assessed as follows:
About Wilshire Associates Incorporated
Wilshire creates personalized portfolios tailored to your age and personal tolerance of risk using County of San Diego DC investment options. NIA monitors Wilshire’s activities and results to make sure they are fulfilling their contractual responsibilities. Working together, NIA and Wilshire Associates can help you feel more confident about achieving your retirement investment goals. Wilshire:
- Adapts the investment strategies they’ve developed for larger institutions and puts them to work for individual investors like you
- Uses a rigorous, disciplined process to develop ProAccount portfolios based on their deep knowledge of markets and investment strategies
- Develops diversified portfolio models using County of San Diego DC investment options
The financial quality of your retirement will most likely depend on the choices you make in your retirement accounts. Nationwide ProAccount® can help you feel more confident about reaching your retirement goals.
Investment advice for Nationwide ProAccount is provided to plan participants by Nationwide Investment Advisors LLC ("NIA"), an SEC-registered investment adviser. NIA has retained Wilshire Associates ("Wilshire") as the Independent Financial Expert for Nationwide ProAccount. Wilshire is not an affiliate of Nationwide or Nationwide Investment Advisors LLC (NIA).
Get the help you need
Talk to a Retirement Specialist about your investment options. Information provided by Retirement Specialists is for educational purposes only and is not intended as investment advice.
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It only takes a few minutes to sign up. Here are some things you'll need:
- Your employer's name or employer's ID
- Your Social Security number
- Your annual income
- Contribution amount
– Use the My Interactive Retirement PlannerSM to help choose an amount
– Learn how your take-home pay will be affected with the Paycheck Impact Calculator
- Investment selections
– Read about your investment options.
- Beneficiary names and Social Security numbers
Get the help you need
We'll even walk you through it. If you need more help, call one of our Retirement Specialists . Information provided by Retirement Specialists is for educational purposes only and not intended as investment or legal advice.
The County of San Diego Deferred Compensation Program consists of 457(b), Roth 457 and 401(a) retirement plans created to allow county and court employees to put aside money from each paycheck toward retirement. The County of San Diego plans can help bridge the gap between the amount you'll have from your pension and Social Security benefits and the amount you’ll need in retirement.
Here are some answers to questions you may have about the County of San Diego Program:
- What sets the County of San Diego Program apart from other retirement plans? The plans may offer benefits other retirement plans can’t, such as penalty-free withdrawals (not applicable to the 401(a) plan) once you stop working for the County of San Diego.
- What does "tax-deferred" mean? Basically, you don’t pay income taxes on your contributions or earnings until you retire and/or begin to take payments from your account (not applicable to the Roth 457 option). This may lower your taxable income. Keep in mind, you may not withdraw money from your account while you are employed unless you have an approved unforeseeable emergency, loan or qualify for an in-service distribution.
Withdrawals are taxable income to you in the year the payments are made.
- What does "post-tax" mean? Contributions to a 457(b) Roth retirement plan are taxed before they are invested in your plan. This means when you retire and begin to take distributions from your plan, you won’t pay taxes on the growth in your portfolio as long as certain conditions are met. Also, combining tax-deferred and post-tax retirement plans may help you achieve tax diversification.
- Can I afford to save for retirement? You can’t afford not to — and since your contributions aren’t taxed (excluding Roth 457 contributions), contributing to the Plan could have less of an impact to your take-home pay than you expect. Use the Paycheck Impact Calculator to see how saving may affect your paycheck.
Neither Nationwide® nor our representatives offer tax or legal advice. Consult your own counsel before making any decisions.
- How much should I put in my account? If you’re unsure, you can use our tools and Learning Center to help decide how much to contribute, what funds to choose and how to use your money when you retire. To see the big picture of how much income is needed in retirement, use the Interactive Retirement PlannerSM.
Keep in mind that investing involves market risk, including possible loss of principal. As you get started in the Program, we’ll help you understand market risk and strategies that may help you deal with it.
Get the help you need
The sooner you enroll, the more you can potentially save. Take a look at the Enrollment Checklist for tips on information that you’ll need to have handy for enrollment and enroll today!
Once you enroll, you'll want to set up online access so you can view account details 24/7. We offer convenient, secure account access with encryption and firewall protection.
Here are some things you can do once you have online access to your account:
Manage your account
- Check your account balance
- Update your personal information
- Get current and past statements
Manage your money
- Verify your contribution dates and amounts
- Change how much you contribute and how your money is invested
- Review available investment options, see fund performance and research funds
- Sign up to have your account automatically rebalanced every quarter (Automatic Asset Rebalancing, or AAR)
Get the help you need
If you need help setting up online access, we can walk you through it. Contact our Customer Service Center today.