The South Carolina Deferred Compensation Program is offering a new way for employees to explore and take advantage of their retirement savings options.
Beginning in June, Empower, the state’s Deferred Compensation provider, will host a monthly webinar to guide state employees through plan highlights and enrollment details.
Deferred Compensation allows employees to set aside an amount of their choosing, either pre- or post-tax, to fund retirement accounts like 401(k) or 457(b) plans.
The sessions are open to all benefits-eligible employees and will cover the basics of both the 401(k) and 457(b) retirement plans available through the Deferred Compensation Program. The hour-long session will have a 30–45-minute presentation followed by a Q&A, giving attendees the chance to explore their options and ask questions.
Other key points of the session will include:
- How to enroll
- Differences and benefits of pre-tax or post-tax contributions
- Managing investment choices
- Contribution limits
- Catch-up provisions
The first session will take place on Monday, June 23 at 9:00 a.m. via Microsoft Teams.
Registration is required, and spaces are limited for each session. Interested employees should register using this registration link.
More dates will be announced at a later date.
