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Human Resources Department

How much can I contribute to a 457 Deferred Compensation Plan and how does that affect my paycheck?

• For 2010, you can contribute up to $16,500.

Hamilton County, as your employer, will withhold the amount you request from your paycheck before federal and state taxes are withheld and forward it to your choice of 457 retirement plan providers. Your contributions will be invested in whatever investment options you have selected with that provider upon enrollment. All contributions and earnings that accumulate over the years are not taxed until you receive them, usually at retirement.

By deferring compensation, you will be planning for your future retirement and will lower your current taxes. The following example illustrates how a $75 investment each pay may only cost you $56.

You can learn more by visiting the websites of our three vendors:

ING Financial

Ohio Deferred Compensation

CCAO (County Commissioners' Assoc. Deferred Comp Plan)

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