• Permanent, full-time employees
• Permanent, part-time employees, permanently scheduled to work at least half time (37 ½ hours per pay period or more)
• Project positions, permanently scheduled to work at least half time (37 ½ hours per pay period or more)
• Provisional employees including Retired Annuitants and any rehired employee

• TAP employees
• SAN employees

Participating in the Plan is one of the best ways to save money for your retirement years. It is also one of the few methods available today to reduce taxable income for the year. Your deferral is subtracted from your pay before taxes are taken out. It is then invested in the investment options you choose.

Deferred Compensation gives you a significant tax break because the program allows you to invest the full amount of your contribution, and you do not have to pay taxes on your savings. Also, the return on your investment is generally higher than the conventional savings of less than 1%.

Absolutely! It makes a huge difference. For example, if you begin saving $100 each pay period today and earn an average of 8% annually, and in 20 years you will have saved $123,862 towards your retirement; in comparison, if you wait five years to start, in 15 years you would have only saved $73,492 towards your retirement. Starting later, in this case, would make a $50,000 difference in your account. Over time, compounding of earnings contributes a significant amount to the growth of your savings.

You should contribute as much toward your retirement as you can afford, because every extra dollar you save will have an enormous impact over the long term. You have the option of discussing exactly how much to save with one of our Credentialed Financial Guidance Professionals. Notably, the rule of thumb is to save approximately 80% of your salary, using a combination of your pension, Deferred Compensation and Social Security, often referred to as ‘the three-legged stool.’ Naturally, adding other resources will enhance your retirement experience.

The Plan is currently Administered by Empower. Empower is a leading retirement plan provider that offers smart planning and investment advice, a complete financial view, and meaningful conversations with financial professionals.

We currently offer Advisory Managed Accounts (AMAs), investment fund options, and GoalMaker, which is the most popular choice in our Plan. GoalMaker is an asset allocation service designed to help participants invest their Deferred Compensation Plan contributions. GoalMaker offers 14 model portfolios using the investment options in the Plan. Participants can choose a portfolio based on their risk tolerance– conservative, moderate, or aggressive – and their time horizon until retirement. These portfolios make it easier for participants to diversify their holdings and offer an efficient approach for participants who prefer to have professional asset allocation. To learn more about GoalMaker, log in to your account on the Empower website. For more information, please call Empower or Deferred Compensation Administration (DCA) at 1-855-969-4572 and select Option 1 to connect to an Empower representative or Option 2 to connect to a County representative.

The County of Alameda is committed to offering the best retirement products and services available. Frequently asked questions and forms are available on the Intranet and Internet. The Deferred Compensation (DCA) Team can provide you with additional Plan information. The Empower Retirement Services website allows you to access and manage your account information 24 hours a day. Empower Retirement Services will provide personal assistance during working hours and their Voice Response Service can be accessed 24-hours a day. Our Credentialed Financial Guidance Professionals will provide you with personalized services if needed at no charge. (For an additional charge, Advisor Managed Accounts are also available to participants.) You can make an appointment here. Assets may be transferred, and future contributions may be re-allocated over the phone or through your Empower account. Quarterly account statements showing account balance, confirmation of transactions, and investment results are provided to participants.

For advice about investments, the Deferred Compensation Administration’s Credentialed Financial Guidance Professionals can provide you with the materials you need to make an informed decision. They are available to meet in-person and can provide you with personalized service if needed, including retirement planning. You may schedule an appointment with a Credentialed Financial Guidance Professional here. For guidance above the Plan level, Empower may be consulted.

No. You are entitled to exactly the same Social Security and County retirement benefits (ACERA) whether or not you join the Deferred Compensation Plan.

To enroll, complete and submit an Enrollment Form and accompanying Beneficiary Designation form to the Deferred Compensation Administration (DCA) Team.

You may submit a Personal Information Change Request Form to change your name or address, or a Beneficiary Designation Form to change your beneficiary. Submit forms directly to Deferred Compensation Administration (DCA) via inter-office mail at QIC 20114, via email to deferredcompensation@acgov.org, or through the Empower website.

Unrestricted exchanges are allowed among the investment options, with the following exception:

Market timing, a type of excess trading, which is the process of making frequent transfers into and out of the same fund or fund-type over a short period. You may exchange funds using your account on the Empower website. Or, for assistance, you may call Empower or Deferred Compensation Administration (DCA) by phone at 1-855-969-4572; press option 1 to connect to an Empower representative or option 2 to connect to a County representative.

On your income tax return, Box 1 will show your gross wages. Box 12G will show your contributions to deferred compensation minus your wages. The taxable income reported in your W2 form is reduced by the amount you deferred into your Deferred Compensation account during the taxable year.

The minimum contribution is $20 or 1.5% for each pay period. While there is no flat rate limit, 61% is the maximum per pay period.

Maximum deferral amounts are updated annually. Information on maximum deferral amounts for the year may be found here.

Yes. If you deferred less than the maximum amount in earlier years, you may, under certain circumstances, contribute more than the regular annual maximum during the three years before you reach “normal retirement age”. The Deferred Compensation Team can explain what age is considered “normal retirement age”, which varies for different types of employee groups.

Yes, as long as you do not exceed the annual maximum amount. You may increase your contributions by submitting a Payroll Modification Form online.

Yes, you may increase, decrease, or discontinue your contributions at any time by submitting a Payroll Modification Form online through DocuSign to the Deferred Compensation Administration (DCA) Team. If you stop contributing, you may restart your contributions at any time.

No, you may not withdraw funds while you are still employed with the County of Alameda. While employed with the County, you have the option of taking a loan or requesting an Unforeseeable Emergency Withdrawal (UEW); for assistance, call Empower or Deferred Compensation Administration (DCA) at 1-855-969-4572 and select Option 1 to connect to an Empower representative or Option 2 to connect to a County representative. However, once you are no longer employed with the County of Alameda, you may withdraw funds.

No, the County of Alameda does not make any matching contributions to your Deferred Compensation account.

Quarterly account statements showing account balance, confirmation of transactions, and investment results are provided to participants by Empower. Fund performance and prices may be obtained through the Empower website.

Yes, while you are employed with the County, you may rollover funds from an outside, qualified retirement plan into your Deferred Compensation Plan account.

Yes, you may take an in-service withdrawal of these funds. You may also rollover these funds again into an IRA. The type of IRA will depend upon the type of rollover contribution you have in your account: Roth 457(b) rollover, pre-taxed 457(b) rollover, or pre-tax non-457(b) rollover.

Yes, there are two categories of loans you may take out: general purpose loans, which must be repaid within five years, and loans to purchase a primary residence, which must be paid within fifteen years. You may take out a maximum of two loans: however, you may only apply for one loan at a time, and there must be a waiting period of at least 12 months before taking out a second loan. There is a $50 application fee that is taken from the request loan amount. Loan repayments are made via payroll deduction. To view the Loan Policy, click here.

Yes, once you have left the Alameda County workforce, assets from the Deferred Compensation Plan may be rolled over to a traditional IRA or Roth IRA. Please note, however, that it may be beneficial to leave the account with the County. You may also transfer your assets in the Alameda County Plan to another public agency’s 457 Deferred Compensation Plan, if that agency’s plan accepts rollover assets.

Yes, when you enroll, you may choose to make traditional pre-tax contributions and/or designated ROTH after-tax contributions. You may contribute to either or both accounts in any proportion, as long as the total combined amount is within the annual limit. (Please note that DC Roth contributions and Roth IRA are not the same; there may be restrictions on how much you may put in a Roth IRA, but this does not apply to DC Roth contributions). If you are already enrolled in the traditional pre-tax deferred compensation account, you may add a Roth source using an online Payroll Modification Form.

Yes, participating in the Deferred Compensation Plan does not affect your ability to have an IRA. However, depending on your income and marital status, you may not qualify to deduct contributions to an IRA. Consult your tax advisor for more information.

The Deferred Compensation Plan may be better for a number of reasons. With deferred compensation, every dollar you contribute and earn is tax-deferred. With an IRA, your contributions may not be tax-deferred (consult your tax advisor). Another advantage of the Deferred Compensation Plan is that it makes saving automatic through payroll deductions, whereas an IRA requires a conscious decision and self-discipline to make deposits. Finally, Deferred Compensation also lowers your taxable income at year’s end.

Mutual funds are not insured against market fluctuations. They are insured against fraud and embezzlement.

Yes, unless you took distributions, in which case you will need to re-enroll to open a new account, but you will also retain your original account. The new account will be marked as subplan 001882. Both accounts will be under the same Deferred Compensation Plan.

Yes, if you are rehired or are a Retired Annuitant and you have previously been receiving distributions from a 457(b) Plan, you will continue to receive those payments. Distributions will be based on the amount of money in your original account. You will make contributions to a new account under subplan 001882. You may not make contributions to your original account. You will receive distributions from your new account subplan 001882 once you have left County service again.

Yes, a Required Minimum Distribution, or RMD, is the requirement that the money within a Deferred Compensation account must be distributed to a participant at a certain point. Usually this is either when you retire or when you turn a certain age, whichever happens later. The money may be distributed in installments or as a lump sum. If you retire before a certain age (and therefore have not received any RMD payments), and return to work as a retired annuitant, you do not have to start taking RMDs once you turn that certain age, as long as you are still working for the County. (If you stop working for the County afterward, however, you will have to start taking RMDs.) You may continue to make contributions to your new account

Loans will continue to be repaid through your personal bank account, rather than through payroll deductions.

No, if you chose not to receive distributions from of your account when you left County service, you may not receive distributions from your original account until you leave County service again.

All exchange requests are effective the same day that Empower receives them, if received prior to 4:00 p.m. Eastern Time. Exchange requests received after 4:00 p.m. Eastern Time are processed the next business day. Your exchange is processed using closing market prices on the day your transaction is processed.

After each transaction, you will receive a confirmation email from the Deferred Compensation Administration (DCA) Team, and/or a written confirmation from Empower which will be mailed to your home address of record. You may also contact Empower Retirement Services or visit your account on the Empower website to confirm transactions.

Contact Person:

Lyssa DeGolia

(510) 227-6916

1115 Atlantic Avenue

Alameda, CA 94501

QIC 30901

Fax: (510) 227-6901

Subplan: 001881 003373 

Contact Person:

Josie Chou

(925) 833-3473

6363 Clark Avenue

Dublin, CA 94568

QIC 81301

Fax: (925) 875-9387

Subplan: 001881 003393

Contact Person:

Dwana Black

(510) 891-6079

Rene C. Davidson Courthouse

1225 Fallon Street, Room 105

Oakland, CA 94612

QIC 20714

Fax: (510) 891-6085

Subplan: 001881 004001