The Deferred Compensation Plan is a Section 457 Retirement Program, commonly referred to a supplemental retirement annuity.听 This plan provides employees with the opportunity to invest money on a before tax basis, using payroll deduction.听 Because your taxable income is reduced, you can invest money and defer taxes.听 The before tax aspect is what makes Deferred Compensation Plans very attractive.听 Participants defer federal and state income tax on their contributions.听 In addition, interest or earnings on your account accumulates tax-deferred.听 No taxes are paid on the account until you begin withdrawing funds. You may join the plan with as little at $10 per pay period. You can contribute the lesser of $20,500 or 100% of compensation per calendar year. Empower Retirement is the plan administrator for Louisiana Public Employees Deferred Compensation Plan.
For more information about Louisiana Public Employees Deferred Compensation Plan, please visit their
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