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State of Florida – Deferred Compensation 457(b) Plan


The Office of Deferred Compensation, under the direction of the Department of Financial Services, offers a voluntary investment plan to allow employees to save additional income for retirement purposes. This plan is available to all state employees including: salaried, OPS, full-time, and part-time. Employees may join the plan at any time and decide the amount to contribute from their monthly paycheck on a pre-tax basis. Since this is an “employee contributory” program, employees will not receive contributions from their employer. A variety of investment options are available and employees may elect to stop and restart their employee contributions to the plan at any time. The following investment providers are available for employees to choose from: VALIC, VOYA, Empower Retirement, T. Rowe Price, Nationwide, and Charles Schwab.

To enroll in the Deferred Compensation 457(b) plan, employees will need to do one of the following:

  • contact one or more of the approved investment providers directly to complete the appropriate paperwork; or
  • complete the Electronic EZ Enrollment Form (2.74MB) PDF and submit it via email to the Office of Deferred Compensation.

For more information, please visit the Bureau of Deferred Compensation’s website at:
https://www.myfloridadeferredcomp.com/SOFWeb/default.aspx,
or contact them locally at (850) 413-3162 or toll free at 1-877-299-8002. You may download an informational brochure here:
https://www.myfloridadeferredcomp.com/SOFWeb/publications/Plan/FinancialFutureBrochure_Pages4Web.pdf (2.26MB) PDF .

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