The City of Los Angeles Deferred Compensation Plan (the Plan) is a voluntary program offered by the City to help you save for a secure financial future and can help to supplement your existing retirement benefit from LACERS, Fire and Police Pensions, or DWP Retirement.
It can help you meet two important objectives:
- Potentially improve financial security, which comes from having the resources to meet your current and future needs.
- Potentially create financial opportunity, which comes from having the resources to imagine new possibilities for yourself.
As a qualified savings plan (which means the Plan can offer tax benefits), the Plan provides key tax advantages in addition to other benefits:
- Active employees: You can save a portion of your paycheck on a before-tax basis which can lower your current tax bill, and/or you can choose to save on a Roth after-tax basis where taxes on savings are paid today for tax-free income in retirement on qualified withdrawals.
- Prior employees: Whether you have left employment or retired, you can continue to invest your savings in low-cost investments until withdrawal.
Everything you accumulate in your account belongs to you. You can borrow from your account as you go along. To learn more about the City of Los Angeles Deferred Compensation Plan and how it can help you save for retirement, click on the links below. Keep in mind that if there is any difference between this website and the Plan Document, the Plan Document will govern.