Deferred Compensation Plan (457 Plan)

Coverage

Deferred Compensation is a savings and investment plan for your retirement. The Vermont State Retirement System oversees the investment options and established the plan. All contributions can be made on a pre-tax or after tax basis depending upon the accounts you elect.

Cost

Participation in the Deferred Compensation plan is voluntary. You determine how much you wish to contribute to the plan, that amount is then deducted from your paycheck and transferred directly to your Deferred Compensation account.

Eligibility

The Deferred Compensation plan is available to all state employees and to employees of other public agencies such as municipalities, school districts, boards, and commissions if the public agency has elected to offer it.

Enrollment and Changes

To begin deductions: If interested in starting a Deferred Compensation plan, please request an enrollment kit from Empower Retirement by phoning them directly (info below).
To change deduction amount: After the initial enrollment, changes to an existing Deferred Compensation deduction can be made by emailing a deduction change form to DHR.Benefits@vermont.gov

Administrator

Empower Retirement
100 State Street, Suite 334
Montpelier, VT 05602
(800) 457-1028 (toll-free)
(802) 229-2391
(802) 229-2637 (fax)
www.vermont457.com

Forms and Documents - Deferred Comp

Commissioner Beth Fastiggi
120 State Street, Montpelier, VT 05620
(802) 828-3491
DHR.General@vermont.gov

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