457(b) Plan Overview

Below are the important features about your plan account. This website is intended to be a summary of the plan provisions.  In the event that a conflict exists between the information contained within this website and the plan document, the plan document provisions prevail. For more information, please contact your local representative.


Under the Plan, the maximum annual contribution amount is set by Internal Revenue Service (IRS) guidelines on a yearly basis. You may view the current limits here.

Withdrawal Charges


Permitted Distributions

Severance from Employment, Unforeseeable Emergency Withdrawal, In Service Withdrawal of Rollovers, Transfer to Purchase Service Credits in a Defined Benefit Plan and Distributions for Health Insurance and Long Term Care. 


  • Only active employees of the County are permitted to borrow from their deferred compensation plan account.
  • There are two types of loans available; general purpose and residential (used to acquire, construct, reconstruct or substantially rehabilitate the principal residence of the participant or family member)
  • Participants may only have one loan outstanding under the Plan at any time.
  • Minimum loan amount for general purpose loans is $1,000, and for residential loans is $1,000.
  • The maximum loan amount is the lesser of: 1) $50,000 or 2) 50% of your vested account balance.
  • You are able to view availability and payment options in your online account. Log In to your account from the Home page of this site. If you need help logging on to your account, you call Customer Service or the local Voya® office.
  • Loan repayments (principal and interest) are made by payroll deduction on a semi-monthly basis. The maximum loan repayment period is five (5) years for general purpose loans and twenty (20) years for residential loans.
  • A one-time set up fee of $50 applies to each loan taken.
  • In the event of a loan default, the participant is not permitted to initiate another loan until the defaulted loan is repaid.
  • Approximately two months following the distribution of the loan proceeds, the first loan repayment will be deducted from your paycheck on an after-tax basis. Repayment dollars are taxed twice: When you repay with after-tax money and upon withdrawal of your account.
  • Loans may impact your withdrawal value and limit participation in future growth potential.
  • Upon separation from service, the loan must be repaid in full to avoid default.

To request a loan, please call the customer contact service center at (800) 584-6001 for a Loan Request package. Review, complete and sign the loan documents. The documents can be faxed or mailed back to Voya for processing. 

You should consider the investment objectives, risks, and charges and expenses of the mutual funds offered through a retirement plan, carefully before investing. The fund prospectuses and information booklet containing this and other information can be obtained by contacting your local representative. Please read the information carefully before investing.

Mutual funds under a custodial or trust account agreement are intended to be long-term investments designed for retirement purposes. Account values fluctuate with market conditions, and when surrendered, the principal may be worth more or less than the original amount invested. A group fixed annuity is an insurance contract designed for investing for retirement purposes. The guarantee of the fixed account is based on the claims-paying ability of the issuing insurance company. Although it is possible to have guaranteed income for life with a fixed annuity, there is no assurance that this income will keep up with inflation. Money taken from the plan will be taxed as ordinary income in the year the money is distributed. An annuity does not provide any additional tax benefit, as tax deferral is provided by the Plan. Annuities may be subject to additional fees and expenses, to which other tax-deferred funding vehicles may not be subject. However, an annuity does offer other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you. 

Not FDIC/NCUA/NCUSIF Insured I Not a Deposit of a Bank/Credit Union I May Lose Value I Not Bank/Credit Union Guaranteed I Not Insured by Any Federal Government Agency

Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. Securities are distributed by Voya Financial Partners LLC (member SIPC).  Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. All companies are members of the Voya® family of companies. Securities may also be distributed through other broker-dealers with which Voya has selling agreements. Insurance obligations are the responsibility of each individual company. Product and services may not be available in all states.