General Layoff Information for the Alaska Deferred Compensation Plan (DCP)
Employees leaving state service can request to have a final deferred compensation contribution taken on their final payroll check. Your final check will include payment of any unused personal/annual leave in addition to your final pay. Some employees prefer to reduce their tax liability by deferring income from their final check into their deferred compensation account.
If you want to request this deferral, please complete the memorandum (link above), and return it to the Division of Retirement and Benefits via fax or as a PDF file email attachment as noted on the form (originals are not required).
|CAUTION: The signed memo must be received by the Division of Retirement and Benefits (DRB) in the month prior to your last day of employment! For example, if your last day of employment is anytime in the month of April, the memo for doing this must be received by DRB no later than March 31. This deadline is required by the plan document in order to comply with IRC regulations.|
For additional information regarding a final deferral, please contact the Pension and Health Benefit Layoff Hotline.