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Hurricane Irma

As we continue our recovery and cleanup efforts, please visit the Emergency website for the latest information on openings and closings in Miami-Dade County.

Deferred Compensation

When you retire, you'll want to maintain the lifestyle you currently have. Social Security and the Florida Retirement System are not intended to replace all of your income at retirement. It is wise to start a savings plan now. The Deferred Compensation Plan is a tax deferred savings plan that can be used at retirement to supplement your Florida Retirement System and Social Security benefits.

Plan Features:

  • Contributions are taken from your gross salary before Federal Withholding taxes are calculated.
  • Your contributions are invested in the products of your choice.
  • You don't pay Federal Withholding Income taxes on your investment contributions or earnings until you receive the money.
  • Social Security taxes on contribution amounts continue to be deducted from your gross salary.
  • Governed by Section 457 Internal Revenue Code.
  • Minimum Contribution: $10 per pay period
  • Maximum Contribution:  100% of your gross taxable salary or $18,000 (whichever is less) as of January 1, 2015.
  • You might contribute into ICMA-RC or Nationwide investments accounts. 

All Miami-Dade County employees are eligible to participate in this plan. There is no waiting period or minimum number of hours you must work bi-weekly.

Contribution and Withdrawal

The County offers two providers ICMA-RC and Nationwide with a number of investment and withdrawal options.

Loans

The deferred compensation plan allows loans for all purposes.

Loans Topics

Frequently asked questions and answers to the most commonly asked questions pertaining to general loans - Nationwide Retirement Solutions and ICMA-RC 457(b) Deferred Compensation Plans.

Upcoming Workshops

The Florida Retirement System (FRS) invites employees within 5-10 years of retirement to participate in this FREE informative employee workshop.

This workshop is designed to encourage you to take action in planning your financial future.

Discuss practical topics important for those close to retirement:

  • Setting retirement goals
  • Retirement expenses & budgeting

Learn how you can pay yourself in retirement:

  • Fixed income streams
  • Flexible income from assets
  • Converting assets to income
  • Retirement distribution tax issues

Develop the skills to make informed choices and take action to improve financial well-being and achieve goals.

Date: Location: Time:
Tuesday, October 3 Stephen P. Clark Center - Room 18-4 9:00 AM – 10:30 AM
11:00 AM – 12:30 PM
2:00 PM – 3:30 PM
Wednesday, October 4 ITD – Second Floor Break Room 9:00 AM – 10:30 AM
2:00 PM – 3:30 PM
Tuesday, October 10 Water & Sewer Department, Training Room 156A 9:00 AM – 10:30 AM
Tuesday, October 10 Corrections & Rehabilitation, 2nd   Floor, Conference Room 1 2:00 PM – 3:30 PM
Monday, October 16 MDPD Headquarters - 2nd  Floor – Cafetorium 9:00 AM – 10:30 AM
Monday, October 16 Fire and Rescue Headquarters - MDFR Training Center, Room 1-003 2:00 PM – 3:30 PM
Wednesday, October 18 South Dade Government Center - Room 104 9:00 AM – 10:30 AM
Tuesday, October 24 Aviation Department - Building 5A, Training Room 9:00 AM – 10:30 AM
Tuesday, October 24 Medical Examiner 2:00 PM – 3:30 PM

For More information or to Register, Call 866-446-9377, option 2 or Register Online.                                                                                               

Back to Top Page Last Edited: Fri Sep 22, 2017 1:21:41 PM
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