Deferred Compensation is a savings and investment plan for your retirement. The Vermont State Retirement System who oversees the investment options that the plan offers established the plan. All contributions are tax-free, and all earnings from investments in the plan are tax-deferred until you withdraw the money at retirement.

 

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 on a pre-tax basis and transferred directly to your Deferred Compensation account. 

 

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. Please contact Great West Retirement Services directly to start enrollment. For changes to an existing Deferred Compensation Deduction, an election/change form can be found under Forms & Documents.

 

Great West Retirement Services

100 State Street, Suite 346

Montpelier, VT 05602

(800) 457-1028 (toll-free)

(802) 229-2391

(802) 229-2637 (fax)