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Section 4: Employee Benefits

West Chicago Park District Employee Policy Manual
4.4–1
Section 4: Employee Benefits

WEST CHICAGO PARK DISTRICT

Section 4: Employee Benefits

4.4
Deferred Compensation
Plan

Introduction………………………………….1

Compensation Plan..…………..………...…1

Introduction

The West Chicago West Chicago Park District recognizes the importance of helping employees
prepare for their long-erm financial security and retirement. To support employees in their retirement
planning goals, the District offers a voluntary deferred compensation plan under Section 457 (b) of
the Internal Revenue Code.

Compensation Plan
The West Chicago Park District has established a voluntary deferred compensation plan
Section (457) (b) in accordance with state and federal guidelines in order to aid employees
with their long-term financial planning. This plan allows employees to put money aside for
retirement on a tax-deferred basis through payroll deductions.
The Park District offers the plan as a voluntary service; employees should consider their
financial needs to determine if the plan is in their best interest. Please contact the
Human Resources for details on the plan.

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