Plan Overview – PTST Deferred Compensation Retirement Plan

Submitted by klevine on

Eligibility and Automatic Contributions

All part-time, seasonal, temporary, and extra-help workers employed by Kern County automatically have 7.5% of their wages directed to a retirement plan sponsored by the County. These pre-tax deductions from your paycheck are made instead of Social Security withholding as required by Federal regulation. The deductions are set aside in a retirement account in your name under the Kern County Deferred Compensation Plan Part-Time, Seasonal and Temporary (“Plan”).

Investments

All payroll deducted contributions are automatically invested in the Kern Stable Value Fund.

Statements

On an annual basis, Voya will provide a personal account statement for your financial records. 

Withdrawals

These assets have been set aside specifically for retirement, so you cannot request withdrawals from your account until after you are fully separated from service with Kern County. Plan rules permit you to take a withdrawal no sooner than 6 months after your final date of employment.

Questions

If you have questions, contact:

  • KernCounty457.com — information available 24/7
  • Call your local Voya representative*, Lilliana Fahel, at 661-868-3467 or email Liliana.Fahel@voyafa.com
  • Contact Voya’s Retirement Readiness Service Center at 800-584-6001

 

Investment adviser representative and registered representative of, and securities and investment advisory services offered through, Voya Financial Advisors, Inc. (member SIPC).

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 Voya Retirement Insurance and Annuity Company ("VRIAC"), Windsor, CT. VRIAC is solely responsible for its own financial condition and contractual obligations. Plan administrative services provided by VRIAC. Securities distributed by Voya Financial Partners LLC (member SIPC) or third parties with which it has a selling agreement. Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. All companies are members of the Voya® family of companies. All products and services may not be available in all states.