Loudoun County offers all regular employees and full-time, long-term temporary employees the option of participating in the 457 Deferred Compensation Plan which is administered by the ICMA Retirement Corporation (ICMA-RC).
Multiple investment options are available. Employees can contribute a portion of his/her salary, via payroll deduction and on a tax-deferred basis. Accumulated funds in the employee's account are not subject to federal and state income taxes until withdrawn at retirement.
ICMA-RC offers a variety of investment guidance to help employees reach their financial goals such as guidance on choosing asset class allocation; selecting appropriate funds based on retirement horizon; and direct management of an employee's portfolio on an ongoing basis. Additionally, onsite financial health seminars are offered as well as financial counseling at no cost to the employee.