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[Music] the Deferred Compensation Plan or DCP is available to All State Employees as well as employees of participating counties some counties offer a similar plan run by a private sector entity the DCP is entirely voluntary but a great way to set aside money for your future retirement how does it work you select a dollar amount from your salary and each pay period that amount is deducted from your paycheck pre-tax and put into your DCP account account you choose how to invest it after you terminate employment you can pull that money out as a lump sum with interest convert it or roll it over into a traditional or Roth IRA set up a systematic withdrawal or defer taking a distribution until you docHub required minimum distribution age lets go through that in more depth now if you choose to set up a DCP there are contribution limits $25 per month or $1250 per paycheck is the minimum the maximums are set up by the federal tax code and get updated every year to reflect inflation and the Con
