What is DCP?

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The Deferred Compensation Program is a supplemental savings program you control. The Washington State Department of Retirement Systems (DRS) administers this 457 plan, which is similar to a 401k or 403b that many employers offer. Over 100,000 Washington public employees have saved with DCP.

With DCP, you can:

  • Save more for retirement
  • Choose your contribution amount
  • Start or stop saving anytime
  • Change investment options
  • Manage your account online

Do I need to know about investing?

Not at all. DCP gives you options. Have a fund managed for you by a professional team–with automatic rebalancing based on your retirement age. Or choose from a variety of additional investment options. You can also change your investment fund at any time.

Tax deferred

DCP is different from a regular savings plan because your contributions come from your pre-tax income. So if you increase your savings by $100, your paycheck is only reduced about $85.

Tight budget?

DCP savings starts as low as 1% per month (or $30). Contributions are automatically deducted from your paycheck making saving easier.

It’s never too early (or too late) to save with DCP!
Get started today.

Enroll or find out more at drs.wa.gov/dcp

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