Deferred Compensation Plan
The County offers a voluntary Deferred Compensation Plan administered by the Hartford Life Insurance Company in Accordance with Section 457 of the Internal Revenue Code. Participants of the program select a designated monthly amount to deduct from their paychecks and then select investment options from the portfolio provided by Hartford.
The Deferred Compensation Plan is a supplemental retirement plan option in addition to your County retirement plan. Consequently, while you may stop your deductions at any time, you may not have access to the monies until you have separated from County service.
Some positions are eligible for a county paid contribution to their Deferred Compensation Plan, depending on their MOU or Management Resolution.
THE HARTFORD NEWS RELEASE DATED SEPTEMBER 4, 2012
Massachusetts Mutual Life Insurance Company Acquires The Hartford's Retirement Plans Group
Why enroll in deferred compensation plan?
Special Deferred Compensation Plan for New Hires
: The County will contribute one hundred fifty dollars ($150) per month to an employee's account in the Contra Costa County Deferred Compensation Plan or other designated tax qualified savings vehicle, for new hires who are members of either the Labor Coalition, or members covered by Management Resolution 2009/341, Local 21, Probation and Peace Officers Association, Deputy District Attorney, Public Defenders and Public Defender Investigators.
See information below to enroll in the Deferred Compensation Plan
Enrolling in Deferred Compensation
Deferred Compensation Notification of Change
Rollover into The Hartford Deferred Compensation Account
Please complete and send to The Hartford. If you have questions, please feel free to contact Helen Lai at (925) 949-2401.
into The Hartford Deferred Compensation account.
One on One Consultations with a Hartford Representative
Feel free to make an appointment with Hartford Representative, Patricia Lundberg to learn more about the 457 Deferred Compensation Program or to review your account. To set up an individual 30 minute appointment, call Patricia Lundberg at 1-866-617-7901.
2013 Elective Deferral Limits
This dollar limit is the maximum amount of elective deferrals than can be made to an eligible 457(b) plan by a participant. If the participant participates in more than one cash or deferred arrangement, this limit applies to the aggregate of the amounts contributed (excluding eligible 457(b) plans. For eligible 457(b) plans, a participant can defer up to the full limin in that plan on a separate basis. Note: deferrals cannot exced compensation.
2013 Annual Catch-Up Contributions Limit
Annual limit may differ for individual participants in certain cases.
This dollar limit applies to employees who are at least 50 years old or who will have attained age 50 by the end of the calendar year and are eligible to make elective deferral contributions to a 457(b) plan. This is a calendar year limit.