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401(k) Savings - Tax-Deferred Savings

The Power of Tax-Deferred Savings
It pays to save through this Plan. Your contributions are taken out of your pay before federal and California State income taxes are calculated, reducing your current taxable income. So, you'll have more money in your pocket than if you were saving the same amount with after-tax dollars.

Consider this example: Sarah earns $2,000 a month in regular pay and wants to invest $100 a month in the Plan. She's married, lives in California, and takes one withholding allowance. Let's compare how much she would save before-tax (through the Savings Plan) and after-tax (at a bank or in some other savings).

Annual Pre-Tax Contribution Limits

Should you choose to take full advantage of the tax savings available, you can contribute up to the following personal pre-tax contributions limits (excluding County matching contributions):

For illustrative purposes only. This hypothetical illustration assumes a married participant taking one withholding allowance and accounts for estimated federal, California state, and FICA tax withholding.

Additional limitations that apply to all contributions to the Savings Plan
In 2003, federal tax law limits personal contributions, matching contributions and after-tax contributions to the Savings Plan to the lesser of $40,000 per year or 100% of Compensation, as defined by the Plan.

Please consider the investment objectives, risks, fees and expenses carefully before investing. For this and other important information, please obtain the mutual fund prospectuses and disclosure documents by visiting the Horizons Web site at www.countyla.com or by calling the Los Angeles County Service Center at (800) 947-0845. Read them carefully before investing.

Investment options are offered through mutual funds and separately managed institutional accounts and have been selected by the Plan Administrative Committee. Securities are offered through GWFS Equities, Inc., a Great-West Company and FINRA member firm.

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