Employee Self-Service

City of Springfield, Illinois ~ Misty Buscher, Mayor



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For City Of Springfield employees only. Unauthorized use is prohibited.






Deferred Compensation Plan Table

The example below assumes an employee payroll deduction of $75.00 per pay, based on 26 pays per year. The example also assumes a 28% income tax rate, and that the investment earns an 8.50% annual rate of return.

The $75.00 per pay deduction would only lower your net (take home) pay by $54.00.

Taxable Plan Tax Deferred Plan
Bi Weekly Contribution $75 $75
Less Income Tax -$21 $0
Net Bi Weekly Contribution $54 $75
Net Yearly Contribution $1,404 $1,950
After 10 Years
Total Contribution $14,040 $19,500
Investment Earnings $7,161 $10,689
Less Income Tax on Earnings -$2,005 $0
Total $19,196 $30,189
After 20 Years
Total Contribution $28,080 $39,000
Investment Earnings $35,951 $54,444
Less Income Tax on Earnings -$10,066 $0
Total $53,965 $98,444
After 30 Years
Total Contribution $42,120 $58,500
Investment Earnings $103,915 $194,269
Less Income Tax on Earnings -$29,096 $0
Total $116,939 $252,769


Tax deferral through the City's Deferred Compensation plan gives you an important advantage over taxable savings and investments…an advantage that can really add up over the long run.