Deferred Compensation Plan For Government Employees In Arizona
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FAQ
The Florida Deferred Compensation Plan is a supplemental retirement plan for Government employees in the State of Florida, established under Internal Revenue Code (IRC), Section 457b.
The Deferred Compensation Committee manages the assets of the Deferred Compensation Plan. It is the intent of the Committee to fulfill its fiduciary responsibilities solely in the interest of the Plan's participants and beneficiaries and to make investments permissible by law for investment of trust funds.
457 Deferred Compensation Plan is a pre-tax deduction from an employee paycheck into an investment account. The pre-tax deduction decreases taxable income, thereby decreasing the tax liability.
The regular yearly contributions amount for Deferred Compensation will increase from $23,000 to $23,500. The catch-up contribution limit that generally applies for employees aged 50 and over remains at $7,500 for 2025 for a combined maximum contribution limit of $31,000 in 2025.
Elective deferral limit The amount you can defer (including pre-tax and Roth contributions) to all your plans (not including 457(b) plans) is $23,000 in 2024 ($22,500 in 2023; $20,500 in 2022; $19,500 in 2020 and 2021; $19,000 in 2021).
Elective deferral limit The amount you can defer (including pre-tax and Roth contributions) to all your plans (not including 457(b) plans) is $23,000 in 2024 ($22,500 in 2023; $20,500 in 2022; $19,500 in 2020 and 2021; $19,000 in 2021).
457B Deferred Compensation Account This retirement plan is optional for City of Atlanta employees. You can contribute up to 4.25% into your 457B account, and the city will match your contributions. Contributions can be up to $23,000 a year.
The Deferred Compensation Committee manages the assets of the Deferred Compensation Plan. It is the intent of the Committee to fulfill its fiduciary responsibilities solely in the interest of the Plan's participants and beneficiaries and to make investments permissible by law for investment of trust funds.
