These monies are deducted from gross wages before taxes are calculated thus the savings. A careful review of expenses before making an election is necessary because any unused benefits at the end of the year are forfeited. Annual enrollment is required. The County offers a deferred compensation plan administered by Nationwide Retirement Solutions. Contributions are made eacy pay period and reduce the amount of taxable income.
Taxes are also deferred on any investment income earned over the course of one s employment years.
NRS provides a range of variable and fixed investment programs so participants can choose the investment options that est fit their strategy and goals. The Personnel Department maintains an Emergency Pool for employees who are confronted with a family emergency. Employees can donate discretionary time to the Pool. Forms are available from Personnel. All requests for time from the Emergency Pool must be accompanied by a physician s documentation.