Deferred Compensation

​​​​​​​The 457(b) Deferred Compensation Plan (Plan #940080) offers an additional way for employees to save for retirement. 

If you elect to participate, your designated contribution amount will be deducted from your paycheck on a pre-tax basis and invested into the funds of your choosing.

​The Deferred Compensation Match Program (Prudential 401(a)  - Plan #940070) ​ Oakland County will match dollar-for-dollar, what you contribute to your Deferred Compensation Plan, up to $500* for the year.  (*Some bargaining units may differ.  Please contact Lisa Villella for more information​ )

457(b) At A Glance

Instructions to see Oakland County Match:

Oakland County Match.pdf

Understanding your contribution options:

Roth Brochure

​Changing Your Contributions

To increase or decrease your contribution amount or enroll in the plan using a specific whole dollar amount or percentage, please contact Prudential directly at ​​ or call 833-OAK-GOV1 (833-625-4681). 

Per IRS rules, a start-up or increase in your Deferred Compensation 457 contributions made one month, will not take effect until the first pay of the following month.  A decrease in contributions will take effect the pay following the change.  Please note that changes on Prudential's website are uploaded to the County system once every 2 weeks, so the above timelines may vary.

To view the 2021 4th quarter fund performance, please click 4th Quarter Fund Performance.pdf.

Monitoring Your Funds

To change or view your current funds you must go online or call Prudential directly.      |      1-833-OAK-GOV1

 The 2022 maximum amount employees may contribute to the Deferred Compensation Plan is as follows:

2022 Annual Limit    $20,500
2022 Annual Limit for 50 years and older      $27,000