The National Association of Counties (NACo), in partnership with Nationwide Retirement Solutions (NRS), and state associations of counties, provides county employees with a Section 457 Deferred Compensation Program. Since its inception in 1980, NACo's Deferred Compensation Program has grown to become the largest supplemental retirement income program available to county employees. More than 360,000 county employees from over 1,900 counties currently participate in the Program, with accumulated assets of more than $8.0 billion.
- Helps public employees save for their future at no cost to their employer.
- Enables public employees to reduce current taxes.
- Institutes a systematic savings program for public employees.
- Automatic contribution deductions make it easy for employees to save.
- Contributions grow on a tax-deferred basis.
- Employees are 100% vested in their accounts.
- Helps employers to recruit and retain high–caliber personnel.
- Usually less expensive to maintain than defined benefit plans.
- Flexibility in program design.
Annually, NACo and Nationwide Retirement Solutions award several scholarships to high school seniors. The students must be the child or grandchild of a participant in the NACo Deferred Compensation Program. An article on the 2013 scholarship winners is available here.