Together, the CSAC Finance Corporation, National Association of Counties (NACo) and Nationwide Retirement Solutions have successfully provided a 457-Deferred Compensation Program to county employees since 1981. The Nationwide Retirement Solutions program is the largest deferred compensation program in the county for county employees. Nationally, approximately 400,000 county employees save for their retirement using this flexible, cost-effective employee benefit program.
The NACo Deferred Compensation Program offers county employees a way to augment retirement savings while postponing the payment of federal, and in many cases, state income taxes. The NACo Deferred Compensation Program allows county employees the opportunity to voluntarily contribute a portion of their wages to a special account and to direct these contributions to one or more investment options. Thus, the Program offers county employees a valuable savings alternative that can be used to supplement their retirement income. The Program also provides county governments an additional benefit option to offer to their employees.
This program is the only one with a national oversight committee consisting of elected and appointed county officials who are plan participants. Additionally, an advisory committee comprised of California county officials provides additional feedback and oversight for this supplemental retirement program.