457(b) Deferred Compensation
Stanislaus County maintains a deferred compensation program to provide voluntary retirement savings opportunities for full-time employees to supplement the County’s defined benefit retirement program that is administered through the Stanislaus County Employees’ Retirement Association (StanCERA). The County’s 457(b) Deferred Compensation program provides eligible employees with the opportunity to make both voluntary pre-tax and post-tax contributions to a variety of investment options.
Full-time Management and Confidential classifications are automatically enrolled in the 457 Deferred Compensation plan upon employment.
For 2024 employees may contribute pre-tax dollars up to $23,000 per plan year with employees age 50 and above being able to contribute an additional $7,500. There is also a special pre-retirement catch-up plan, contact Nationwide for details.
If you wish to enroll in the 457 Deferred Compensation plan, download and complete the Enrollment Form. Email, fax, or mail your completed form to Nationwide as indicated on the second page of the enrollment form .
Participants can change bi-weekly contributions at any time throughout the year. Log into your account online or via the Nationwide My Retirement app, or contact Nationwide customer service.
As a reminder, in general, new enrollments and contribution changes go into effect the first available pay check in the following month.
Withdrawal of your funds is allowed only at termination/retirement of County employment or if a Hardship Withdrawal is requested and approved. *Taxes will be due upon the withdrawal of funds.
Log into your account or contact Nationwide if you want to withdraw or rollover your funds.
Nationwide offers a 457 Deferred Compensation Loan Program. Log into your account or contact Nationwide for details 877-677-3678.
- Deferred Comp Enrollment Form
- 457(b) EZ Enrollment Form
- Beneficiary Form
- 2024 Tax Planning Quick Reference Guide
401a Plans (Social Security Alternate Plan)
Stanislaus County provides a 401a Plan for eligible part-time employees.
A federal law, the Omnibus Budget Reconciliation Act of 1990 (OBRA 90), requires that governmental employees who are not members of their employer's existing retirement system, be covered under Social Security or an alternate plan. The 401a Plan satisfies federal requirements and provides cost savings to you and your employer when compared to Social Security. The plan only requires a minimum contribution of 7.5% to your retirement account.
Part-time County employees are automatically enrolled into the 401a Alternate Retirement System. Rehired StanCERA retirees who return to work for the County are exempt from coverage.
When you leave County employment, there is a 60 day waiting period to withdraw or transfer your 401a funds. Once this 60 day waiting period has passed, the County will notify Nationwide.
Log into your account or contact Nationwide if you want to withdraw or rollover your funds.
- 401a SSA-1945 Cover Letter
- 401a SSA-1945 Notification
- Beneficiary Form
- 401a Government Pension Offset Info
- 401a Windfall Eliminate Provision Info
Nationwide Workshops
Our Northern California Nationwide team offers a variety of deferred compensation educational workshops. These webinars are a great way to learn more about this valuable Employer Sponsored benefit.
Please check out the below flyer about the time value of money. It contains a QR code for anyone who would like to schedule a virtual appointment with our Nationwide Retirement Specialist.
Contact Information:
- Retirement Resource Group
888-401-5272
moc.ediwnoitan@urofsrn -
Log into your account:
Deferred Compensation web site
Nationwide Retirement Specialist, Brenda DeVecchio
moc. ediwnoitan @1bceved
209-337-4574
