It’s Our Turn to Protect You and Your Future
Retirement may be closer than you think. After you take off your shield, then what? Paying attention to your account and the options available to you will keep you in command of your financial future.
845 Health Insurance Premium
You can use up to $3,000 per year, tax free, from your deferred compensation account to pay qualified long term care or health insurance premiums for yourself, your spouse, or your dependents.
No Early Withdrawal Tax for 457 Distributions
In retirement you are able to take a distribution from your 457 account at any age without an early withdrawal penalty. However, if you roll your 457 account to an IRA or Qualified Retirement Plan (401(k), 403(b), or 401(a)) any distributions you take will be subject to a 10% penalty until age 59½.
At no charge, you have the services of our Personal Retirement Consultant (PRC) that many financial planners charge for. Our PRC can look at all of your financial assets and help you make more holistic decisions about your retirement.
Health Care Assessment
Because of the County’s relationship with Nationwide, you have access to a Health Care Assessment that helps you evaluate your potential health care costs so you can have even more decision-making confidence.
My Interactive Retirement Planner
Our Interactive Retirement Planner tool helps you evaluate where you are relative to where you want to be. You can take that one step further with our My Interactive Retirement Planner tool that connects to your deferred comp account and allows you to see even more clearly the steps to take to get to where you financially want to be.
These are just a few reasons to stay in the Plan! Join the more than 16,000 County employees who are working to achieve and protect their retirement goals through participation in one or both of the County’s Plans. And-if you are already a participant, consider increasing your deferral today!
Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including fees and when you can access funds. Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before aged 59½.