San Jose California Deferred Compensation Investment Account Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• City: San Jose
• Control #: US-CC-20-146
• Format: Word; Rich Text

Description

20-146 20-146 . . . Deferred Compensation Investment Account Plan under which Board of Directors of Savings and Loan Association allocates a portion of annual bonuses which would otherwise be paid to selected officers and employees to a separate account. The deferred compensation in such account is deemed, for purposes of Plan only, to represent specified percentages of Association's investments in certain portfolios of equity securities, and it is increased or decreased to same extent as performance of such securities The San Jose California Deferred Compensation Investment Account Plan, also known as the San Jose Deferred Compensation Plan (SJ DCP), is a retirement savings program offered to employees of the city of San Jose, California. The plan allows employees to defer a portion of their salary on a pre-tax basis, meaning contributions are deducted from their paychecks before taxes are applied. This provides employees with a tax advantage as their taxable income is reduced. Participants in the San Jose California Deferred Compensation Investment Account Plan have the opportunity to choose from a variety of investment options to grow their savings. These options include a range of mutual funds, index funds, and exchange-traded funds (ETFs). One of the key benefits of the plan is the ability to control investment choices and diversify assets according to individual risk tolerance and financial goals. The plan offers both traditional investment options and socially responsible funds for participants who wish to align their investments with sustainable and ethical principles. The San Jose California Deferred Compensation Investment Account Plan also provides employees with the flexibility to change investment allocations and adjust contribution levels to match their changing needs over time. Participants can review their account balances and investment performance regularly through an online portal or by contacting the plan administrator. In addition to the main San Jose Deferred Compensation Plan, there are also sub-plans available to specific groups of employees. These include the Police and Fire Plan, the Federated City Employees’ RetiremenSystemicFERRSRS) Plan, and the Federated City Attorneys Retirement System (CARS) Plan. Each of these sub-plans is tailored to the unique needs and regulations governing the respective employee groups. To ensure that participants are well-informed, the San Jose California Deferred Compensation Investment Account Plan provides educational resources, such as workshops and online materials, to help employees make informed decisions about their investments. Retirement counselors are also available to provide personalized guidance and answer any questions participants may have. Overall, the San Jose California Deferred Compensation Investment Account Plan offers a valuable opportunity for employees of the city of San Jose to save for retirement in a tax-efficient manner while enjoying a selection of investment options tailored to their individual preferences and goals.

The San Jose California Deferred Compensation Investment Account Plan, also known as the San Jose Deferred Compensation Plan (SJ DCP), is a retirement savings program offered to employees of the city of San Jose, California. The plan allows employees to defer a portion of their salary on a pre-tax basis, meaning contributions are deducted from their paychecks before taxes are applied. This provides employees with a tax advantage as their taxable income is reduced. Participants in the San Jose California Deferred Compensation Investment Account Plan have the opportunity to choose from a variety of investment options to grow their savings. These options include a range of mutual funds, index funds, and exchange-traded funds (ETFs). One of the key benefits of the plan is the ability to control investment choices and diversify assets according to individual risk tolerance and financial goals. The plan offers both traditional investment options and socially responsible funds for participants who wish to align their investments with sustainable and ethical principles. The San Jose California Deferred Compensation Investment Account Plan also provides employees with the flexibility to change investment allocations and adjust contribution levels to match their changing needs over time. Participants can review their account balances and investment performance regularly through an online portal or by contacting the plan administrator. In addition to the main San Jose Deferred Compensation Plan, there are also sub-plans available to specific groups of employees. These include the Police and Fire Plan, the Federated City Employees’ RetiremenSystemicFERRSRS) Plan, and the Federated City Attorneys Retirement System (CARS) Plan. Each of these sub-plans is tailored to the unique needs and regulations governing the respective employee groups. To ensure that participants are well-informed, the San Jose California Deferred Compensation Investment Account Plan provides educational resources, such as workshops and online materials, to help employees make informed decisions about their investments. Retirement counselors are also available to provide personalized guidance and answer any questions participants may have. Overall, the San Jose California Deferred Compensation Investment Account Plan offers a valuable opportunity for employees of the city of San Jose to save for retirement in a tax-efficient manner while enjoying a selection of investment options tailored to their individual preferences and goals.