The Deferred Compensation Program (DCP) is a supplemental retirement savings program. Effective October 1, 2023 DCP will offer Roth investment options, along with traditional investment options. This retirement savings program is directly administered by Washington State Deferred Compensation, part of the Washington State Public Employees Retirement System (PERS).
You can sign up for deferred compensation at any time. Please note that access to this money, once it is deferred, is governed by very strict IRS regulations and is not readily available to you. To sign up for the Deferred Compensation Program, complete the online form or the paper enrollment form and return it directly to DCP.
For current information on the minimum and maximum amounts you can contribute please visit the Dept. of Retirement Systems (DRS) website. Participants age 50 or or older are allowed to contribute an additional amount as a catch-up. If you have an IRA or retirement plan from a previous employer, you can rollover those funds into DCP.
Beneficiary
You can change your beneficiary anytime. Return your completed beneficiary form directly to DRS. Please be sure to keep a copy for your records. Seattle Housing Authority does not keep a copy in your beneficiary records.
For more information:
- Log on to the DCP website.
- DCP Intro Flyer
- DCP Roth & Pretax Options video
- Call the DCP Information Line at 800.547.6657.