Deferred Compensation Plan


Plan Overview

In 1976, the board implemented the State of Nebraska Deferred Compensation Plan (DCP). DCP, as authorized by IRS Code §457, is a voluntary retirement savings plan which allows state employees the ability to defer and invest a portion of their compensation for retirement. DCP should be considered a long-term retirement savings account designed to supplement the mandatory retirement plan.

  • Contributions to DCP are made on a pre-tax basis. There is no employer match.
  • Distributions may not be taken from the plan until termination, retirement, or approved financial hardship.
  • DCP is available for all State, Judges, and State Patrol employees. County employees may participate in the State plan if their county does not offer a Section 457 plan.
  • Individuals employed on a permanent or temporary basis, full-time or part-time, may participate in the plan.
  • Participants may increase, decrease; or stop and then resume contributions.
  • State and federal income tax will be applied when distributions are taken from the account.
  • Participants must make their own investment decisions. Rates of return vary based on investment choices and market performance. Contributions are placed in the default investment option until an investment election has been made. To view the investment funds current rates of return, click HERE or utilize the Online Account Access (see the last paragraph on this page for further details).

Effective 2020, election to participate in DCP will be an option for State employees during open enrollment. In addition, year round DCP enrollment and the ability to change contribution amounts will be available via the Employee Work Center (Workday). Individuals who do not have access to the online process may complete a DCP Enrollment Form and submit to their HR/Payroll department to enroll. HR/Payroll will approve, sign, and forward the form to NPERS. Elections made during open enrollment will be reflected on the first paycheck in July.


Please Note:

Deferrals of unused leave payments (for terminating employees) may only be requested by submitting the DCP Plan Enrollment/Change form to your agency HR/Payroll department. HR/Payroll will approve, sign, and forward the form to NPERS prior to funds being received in our office.


Recommended Reading for Members

Member Handbook (PDF, 2.07 MB)

DCP Plan Document (pdf) (PDF, 185 KB)

Quarterly Fund Returns


Educational Videos for Members

Deferred Compensation Plan Video

This video provides a brief outline of the Deferred Compensation Plan, or DCP. Including who can participate, how to participate, and what you can do with your account when you are ready for it.


Investment Assistance Video

To help DCP members make informed investment decisions, NPERS offers multiple publications and an Investment Education video. This video covers the investment options and provides an outline on the basics of investing.

DCP & Workday Walkthrough

This video details in a step-by-step process how to use Workday to enroll into the DCP, or Deferred Compensation Plan. It also includes information on changing your contribution amount and stopping plan enrollment, along with describing a couple of other things to keep in mind when participating in the DCP.



Online Account Access

NPERS recommends using the Ameritas Online Access to choose investments. If you have already created an Ameritas Online account for your mandatory retirement, your DCP account will be added to your existing login credentials once Ameritas receives enrollment data from NPERS. If you have not created an online account, Ameritas will mail you correspondence containing the information you will need to create an online account.



Member Resources