The County offers eligible employees the ability to save for retirement on a tax-deferred basis through the 401(k) and 457 Plans. Tax-deferred means you don’t pay income taxes on the amount you contribute to the Plans – or earnings on those contributions – until you withdraw those funds after you separate from service. This means that your retirement income can accumulate faster than if you invested it in a regular savings account. In addition to pre-tax contributions, you are also able to make after-tax contributions through the Roth option available in the 457 Plan.
As another incentive to save, the County offers most eligible employees a matching contribution in the 401(k) Plan. This means that if you choose to contribute to the Plan, the County will also make a contribution to your account. If you don’t participate in the Plan, and you’re eligible for the match, you’re essentially throwing away free money.
You may think you can’t afford to participate in the Plans. But, on the other hand, can you afford not to participate? Remember, you can start small – every little bit helps. And, it’s never too late to start.
To find out if you’re eligible to participate in the Plans, find out the amount of your County matching contributions, or request an enrollment guide, contact your department’s personnel representative or the Deferred Compensation Program by e-mailing to firstname.lastname@example.org. To enroll in the plan, or to increase your contributions call Fidelity at 800/343-0860 or logon to NetBenefits at http://netbenefits.com/ventura
The “Retirement Planning 101: What You Need to Know” workshop has gone virtual. Since in-person workshops are currently suspended due to Covid-19, a recorded version is now available to view from the comfort and safety of your own home. Please visit the provided links to view this comprehensive pre-retirement workshop and access the resource materials referenced in the video presentations. We hope you find this information beneficial as you plan for your retirement. Should you have any questions, please feel free to
contact us at Deferred.Compensation@ventura.org.
Well-being & you
With the coronavirus pandemic reshaping how we live and work, you are probably looking for help with how to make good, informed decisions regarding not only your money but also your health, work , home and life. Fidelity has created the Well-being & you website to provide resources for all of these topics. Visit this website for information in how to help make good informed decisions in this continually changing world.
Deferred Compensation Administrator
CEO Human Resources/Benefits
County of Ventura
800 South Victoria Ave #1970
Ventura, CA 93009
Phone: (805) 654-2620
Fax: (805) 658-4528