Many retirement experts say that Social Security and a basic pension will not be enough for many retirees to live the life they are expecting. To expand your retirement savings, you may want to consider the King County Employees Deferred Compensation Plan, a voluntary 457 account offered exclusively to King County employees. The plan allows you to defer a portion of your paycheck to a variety of investment options before taxes are deducted, reducing your taxable pay now and helping you save for the future.
You also have the option to defer a portion of your paycheck to a Roth 457(b) account on an after-tax basis. Taxes are withheld from your Roth contributions before they’re invested in your account. In exchange, you may be able to withdraw your contributions and any earnings tax-free when you retire.
You and/or your spouse or significant other are invited to attend one of our upcoming in-person education sessions on July 11–13. Go to the Online Event Center for details and registration.
If you have any questions, please contact KC Deferred Comp.