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 deferred.compensation@ventura.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.
What is Financial Wellness?
No doubt you are aware how important physical and mental wellness are for your overall health and happiness. But what about your financial wellness? How do you feel about your finances? Take some time to explore your financial wellness so you can feel control over your money management and have peace of mind that you are on the right path.
Fidelity has created a comprehensive education module on Financial Wellness with a variety of tools and resources. You are encouraged to take a look and access the tools that are right for you.
HOPING TO GET ON TRACK FINANCIALLY AND NOT SURE HOW TO GET STARTED?
Take advantage of a workplace savings plan, like a 401(k) or a 403(b). If you are already enrolled, consider contributing 1% more.
JUGGLING MULTIPLE FINANCIAL PRIORITIES AND FEELING STRESSED ABOUT HOW TO TACKLE THEM?
Access online learning resources in the NetBenefits.com Library for more help and ideas to manage your goals.
FEELING CONFIDENT MONEY-WISE, BUT WANT TO KNOW HOW TO DO EVEN BETTER?
Great! Keep going! Try doing one new thing (for example, increase your savings rate or research a new investment vehicle).
Enrollment
Planning and Guidance
Planning Resources
Beneficiaries
Annual Leave Buydown/Payoff Deferral to 457
Separating from County Service
Qualified Domestic Relations Order (QDRO)
Plan Oversight
Plan Documents and Amendments
Investment Policy Statement
457 Special Catch-Up
Deferred Compensation Presentations
Fidelity Workplace Education Series
- Get Started Presentation
- Budget Debt Management
- Fundamentals of Retirement Income Planning
- Confident Investing in Any Market
- Invest Confidently For Your Future
- College Planning 529
- Make the Most of Your Retirement Savings
- Make the Most of Social Security
- Preserving Your Savings for Future Generations
- Identify and Prioritize Your Savings Goals
The Living Trust and Estate Planning Workshop, along with additional educational workshops, are hosted at Ventura County Credit Union (VCCU) locations throughout Ventura County. Check out the VCCU website at https://www.vccuonline.net/membership/member-education for a schedule of their upcoming workshops.
Contact Information
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
Deferred.Compensation@ventura.org