County employees may participate in deferred compensation plans authorized under Section 457 of the Internal Revenue Code. Such plans are a great way to supplement retirement income.
Under the CCAO Deferred Compensation Plan, participants can invest part of their paychecks before withholding for state and federal income taxes are deducted. The savings and earnings on the investments are not subject to taxes until they are withdrawn from the plan, usually at retirement, when most people will not have as much taxable income.
Our plan also has a ROTH option for county employees to choose. You can invest in your future with post-tax dollars so you will be able to avoid paying any additional taxes when they are withdrawn from the plan at retirement. This is another great way to supplement your OPERS retirement, or other 401(k)’s and IRA’s.
The CCAO Deferred Compensation Program was established in 1985 to serve the needs of county employees. County officials and employees in all 88 Ohio counties defer additional money to supplement their retirement income under the program.
The plan is overseen by a committee of county officials who recognize the needs of their employees. Emphasis is placed on service to the county employee to help achieve a comfortable, secure retirement. The County Commissioners Association of Ohio Service Corporation (CCAOSC) has selected Empower Retirement to administer and market this plan. Empower Retirement is Ohio’s premier county deferred compensation provider in all 88 Ohio counties with tens of thousands of county employee members and hundreds of millions under the Ohio county plan administration. Empower Retirement is the nation’s second-largest retirement services company and the largest public sector plan administrator. Empower has over 9 million total participants nationwide. They manage nationwide assets over 500 billion dollars in over 36,000 total retirement plans.
If you have any questions regarding your CCAO Deferred Compensation account, please call 800/284-0444 or visit www.ccao457.com and click on the “contact us” link located in the upper-right corner of the home page.
Empower Retirement is an endorsed CCAOSC program partner.