457 Deferred Compensation Program (DCP)
457 Deferred Compensation Program (DCP)
The Washington State Department of Retirement Systems (DRS) administers the voluntary Deferred Compensation Program (DCP) for many public employees. It is an extra retirement savings program that can help you reach your retirement goals. Click on the link below for helpful resources and videos.
1(888) 327-5596
- You may contribute through pre-tax or ROTH payroll deductions and choose your investments from a diverse selection of funds.
- Your initial enrollment is completed using paper forms, then once enrolled, any changes to contributions, investments and beneficiary designations are made through your online account.
- Click on the link above for helpful information and videos about the DCP plan.
- You may enroll or make changes anytime.
- Account balances are based on contributions plus earnings or losses.
Unique to DCP plans, when you leave the city, there is no IRS early withdrawal penalty for taking a distribution.