â–¡ I am a new participant in the County of Riverside 457 Deferred Compensation Plan Note: Only use this form if you have established an account in the Plan. Deferred compensation plans are designed for state and municipal workers, as well as employees of some tax-exempt organizations.The basic rules are simple, but there are many issues to consider when designing, implementing, modifying, and paying out a deferred compensation arrangement. To define the City of Riverside Deferred Compensation Plan as arranged under Section 457 of the. Business and Advanced Solutions provides sample agreements to support the business solutions listed below.