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.

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 kit, contact your department’s personnel representative or the Deferred Compensation Program by e-mailing to deferred.compensation@ventura.org.