DRS Notice 25-014, Volunteer firefighters can now enroll in DCP
Applies to: Fire Protection Districts and Municipal Fire Departments
Subject: DRS Notice 25-014, Volunteer firefighters can now enroll in DCP
Beginning July 27, 2025, volunteer firefighters can enroll in Washington’s Deferred Compensation Program (DCP) under HB 1156.
Who is eligible?
Volunteer firefighters who are paid wages and issued a W-2 are eligible to participate. There are certain IRS limits on the type of compensation that can go into DCP. This means contributions can only be deducted from earnings reported on a W-2.
To offer DCP to your employees
Complete this resolution form and send to DRS, we’ll handle the rest. Once you’ve adopted DCP, your employees can enroll with a few simple steps.
More about the program
DCP is a supplemental retirement savings program offered by DRS to public employers at no cost. This benefit provides your employees with the opportunity to invest money through payroll deductions while offering options for federal tax savings.
More than 1,400 employers are already participating in DCP and here’s why:
A benefit for your employees
- Start saving with as little as 1% or $30 per month
- Low fees and portability
- Roth and pretax deferral options
- 24/7 account access
- No penalties for early withdrawals
- Responsive, friendly customer service
- Investing opportunities through WSIB
A benefit for employers
- All services are provided by DRS at no cost
- Simple reporting process
- DRS administers the plan
- Education provided by DRS
- Responsive, friendly employer support
- Helps with recruitment and retention
The DRS Education & Outreach team is ready to assist you and your employees with this important decision. We provide education for Washington state retirement plans and DCP. If you’d like to discuss DCP or schedule a training event, contact the Education & Outreach representative for your area.
