Know what to do with my money when I retire or leave employment
Retiring or leaving County employment doesn’t mean you have to stop participating in the County of San Diego Deferred Compensation Plan. Here are a few benefits of keeping your retirement savings in the Plan:
- PLAN OVERSIGHT
The Plan is governed by an Investment Advisory Panel whose purpose is to ensure the best possible defined contribution plan for the benefit of the participants and their beneficiaries. The Panel regularly reviews the Plan’s lineup of well-known mutual funds and investment offerings and makes changes as necessary.
- LOWER FEES
Due to the volume of assets in the Plan, we’re generally able to negotiate lower fees than those of individual plans. In addition, the Plan does not charge sales commissions like private brokers typically do.
- ACCOUNT ASSISTANCE
As a plan participant you have access to Retirement Specialists who provide face-to-face education about your deferred comp account, and Personal Retirement Consultants who specialize in determining retirement income needs and payout options. These services are available at no additional charge. For more information contact the local Nationwide® Retirement Solutions Office.
- FLEXIBLE PAYMENT OPTIONS
You can choose to withdraw money from your account at regular intervals or in specific amounts - or just take it out as you need it. You may also consider transferring your other retirement assets into the Plan to manage all your retirement assets in one place.
If you have other retirement assets, consider transferring them into your County of San Diego Deferred Compensation Plan Account. We make it easy to manage all your assets in one place. If you decide to withdraw money from your County of San Diego Deferred Compensation Plan Account, please complete the Retirement Benefits Option Form. For questions or assistance completing the form please contact Nationwide at 1-888-324-5433.
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your 457 account to a different plan type may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59½.
Information provided by Retirement Specialists is for educational purposes only and not intended as tax, legal, or investment advice.