Employee Benefits
Tax Deferred Retirement Plans
Deferred Compensation Program (DCP) administered by Washington State
Department of Retirement Systems:
The State of Washington Deferred Compensation Program (DCP) offers you the
opportunity to plan for a secure financial future. DCP provides tax benefits by
allowing you to automatically save a portion of your salary and invest it in
your choice of 12 different investment options.
Your taxable income is reduced by the amount you save on a before-tax basis,
lowering your current federal income tax.
Supplemental Retirement Annuity (SRA) administered by TIAA-CREF:
Supplemental Retirement Plans are tax-deferred and allow you to put away more
for retirement over and above the basic retirement plan offered by your
employer. While the provisions of different tax-deferred plans vary, they all
work the same way: money goes straight from your paycheck to an investment
account, reducing your current income taxes. What's more, your potential
investment earnings won't be taxable until you withdraw them in retirement. With
higher contribution limits than IRAs (and more significant tax deductions),
tax-deferred plans from TIAA-CREF may be one of the best ways for you to build
the retirement you want
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