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Vantage Credit Union’s Deferred Compensation Plan (DCP) is a federally-insured, tax-deferred savings plan which enables you to set aside a portion of your paycheck each pay period for retirement.
- Employees of participating school districts
- Employees of participating companies
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- Your account is federally insured up to $100,000
- The current rate is paid on ALL funds in the account, not just the dollar amount deposited during that rate period
- Friendly, local Vantage Credit Union representatives are available to answer your questions (unlike annuities where you usually must call someone out-of-state for help that you don’t know)
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- No maintenance fees
- No administrative fees
- No front- or back-loading charges
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- “Annuity factors” are not used to determine your withdrawal payments
- Account balance continues to earn interest throughout your withdrawal period
- Flexibility to change withdrawal options to meet your retirement needs
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- Deposits are tax-deferred allowing you to reduce your taxable income while saving for retirement
- Deposit a portion of your paycheck pursuant to IRS Code Section 457 (e)(15)
- Special “catch up” provision allows additional deposits during each of your last three years before retirement
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Check with your school district or employer to see if they offer Vantage Credit Union’s Deferred Compensation Plan as an employee benefit. If so, call Vantage Credit Union today at 314.298.0055 or 800.522.6009 to receive more information about DCP investment options, current rates and account disclosures.
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