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Renton School District

457(b) Deferred Compensation Plans

The Deferred Compensation Program (DCP) is a special type of savings program that helps you invest for the retirement lifestyle you want to achieve—a lifestyle that might be hard to reach with just your pension and Social Security.

Unlike traditional savings accounts, DCP is tax-deferred — it lowers your taxable income while you are working and it delays payments of income taxes on your investments until you withdraw your funds. DCP is a great way to save.

DCP is an IRC Section 457 plan administered by the Washington State Department of Retirement Systems (DRS).


Contributions are automatically deducted from your paycheck, so saving is easy. Start with as little as $30 per month. You can also let your contributions grow with percentage deductions.


Online or by phone, you can change your contribution amount and investment selections at any time. Your changes can take up to 30 days to go into effect (depending on your employer’s payroll cycle).


DCP offers a variety of professionally managed investment options, including “one-step” funds that automatically rebalance the asset mix as you move toward your target date for retirement. Funds are selected by the Washington State Investment Board, with fees among the lowest in the marketplace.

Regulations: DCP adheres to administrative codes or rules adopted by Washington agencies. See the DCP section of the  WAC (Washington Administrative Code).


DRS recordkeeping partner: Voya Financial

Voya Financial is the record keeper for DCP, Plan 3 and JRA customer investment accounts. They can assist you with transactional needs and account information.

Call Voya: 888-327-5596

(TTY users dial 711)

Fax: 844-449-2551

Mailing address:
Voya Financial
Attn: Washington State DRS
PO Box 389
Hartford, CT 06141

NEW: Chat live with customer service when you select the chat icon from the Voya login page (you can also chat once you are logged into your investment account).