Deferred Compensation Basics


The Suffolk County Deferred Compensation Plan (Def Comp) is a tax-deferred retirement savings program available to Suffolk County employees. The Plan is a (IRS Designation) 457 (b) Plan. Employees may choose to enroll in the 457(b) plan and contribute towards retirement using pre-tax income from regular salary contributions.

There are two different types of contributions that can be made to Def Comp; regular contributions (an amount or percentage of income), and catch-up contributions ( a provision of the 457 Plan for eligible participants nearing retirement with underutilized contributions that can help to accelerate savings in the plan).

Suffolk County Deferred Compensation is part of a 3 pronged approach to retirement security

As a Suffolk County Employee you are likely a member of the NY State pension system and can also expect to collect Social Security during retirement. Life can be expensive and not knowing what will happen after your retire can make pension and social security income inadequate to cover your expenses. 

1.  NY State Pension

2.   Social Security

3.   Suffolk Deferred Comp

The 3 parts of a good retirement plan!

Retirement Experts agree that people retiring today will need more income in the future than ever before and to accomplish that, it’s important to have as many sources of retirement savings as possible. Joining the Suffolk County Deferred Compensation Plan is a great way to save money for retirement and the earlier you join, the more money you can accumulate for retirement.

Also, depending on your age at retirement, you may not be able to start collecting Social Security and having savings from Deferred Comp can help cover expenses until you can collect.

About the Plan

The Suffolk Deferred Compensation Plan is a benefit offered by Suffolk County to its employees. 

To see the Plan's investment options. Visit the Fund Lineup Section.  And to view the investment management fees, visit the Fee disclosure section of this website.

Suffolk Deferred Compensation Plans investment funds have:

  • No front end loads (sales charges or commissions paid for an investment at the time of purchase)
  • No back end loads (sales charges or commissions paid for an investment at the time of sale)
  • No surrender charges (fees charged when an insurance or annuity product is surrendered for its cash value)
  • No marketing fees
  • No transaction fees (brokerage/transfer fees)

Benefits of Enrolling in the Plan include:

  • Automatic payroll deductions.
  • Pre-tax contributions - your taxes will be reduced by the amount you contribute on a pre-tax basis.
  • Choose your investment lineup- use a Target Date Fund ("do it for me") or create your own investment mix with the Plan's many investment options.
  • Monitor your savings progress and track retirement goals with online tools using the T.Rowe Price Suffolk website , T.Rowe Price Personal mobile app or via Phone. Additionally visit with the T.Rowe Price Representative at many Suffolk Workplace locations. (see the onsite schedule on the home page)

Learn more about the value of saving for retirement with Educational short videos: