Enrolling in the plan is simple, but saving for your long-term financial goals requires you to be informed. We’re here to help.

Before enrolling in the Florida Deferred Compensation Plan, you should:

  • Understand the Plan features.
  • Review the investment options offered.
  • Understand the performance of the available investment options.

 

IMPORTANT INFORMATION -- Variable investment options offered under a group funding agreement are considered long-term investments designed for retirement purposes. Money distributed will be taxed as non-earned income in the year the money is distributed. Account values fluctuate with market conditions and, when redeemed, the principal may be worth more or less than the amount originally invested.

 

Eligibility

All state employees who receive a regular monthly or bi-weekly paycheck from the Bureau of State Payroll may become a participant and defer payment of part of their compensation. If you require assistance to determine your Plan eligibility, please contact the Deferred Compensation Office at (877) 299-8002 for additional eligibility qualifications.

 

Enrollment Options

There are two ways you can enroll in the Florida Deferred Compensation Plan:

Meet with your Voya local representative.
Make an appointment with a local representative to enroll in the Plan. When you meet with your representative you can develop an investment strategy that aligns with your retirement objectives, decide how much to contribute to the Plan, and designate a beneficiary for your account.

Enroll online.
Online enrollment is fast, easy and entirely at your convenience. Visit myfloridadeferredcomp.com to complete and submit the EZ Enrollment Form. Contact the Bureau of Deferred Compensation at (877) 299-8002 for assistance with this form. To then choose Voya as your investment provider, review the Enroll in the Florida Deferred Compensation Plan guide to help you through the online enrollment process. Click the “Enroll Now” button on this page to get started. Before enrolling, be prepared to provide information about the person(s) you wish to designate as your beneficiary(ies).

 

Not FDIC/NCUA/NCUSIF Insured I Not a Deposit of a Bank/Credit Union I May Lose Value I Not Bank/Credit Union Guaranteed I Not Insured by Any Federal Government Agency

You should consider the investment objectives, risks, and charges and expenses of the variable investment options offered through a retirement plan, carefully before investing. The informational booklet and fund prospectuses containing this and other information can be obtained by contacting your local representative. Please read the information carefully before investing.

Group annuities are intended as long-term investments designed for retirement purposes. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.