401(a) Defined Contribution Plan

Arlington County’s Defined Contribution Plan is established under Internal Revenue Service (IRS) Section 401(a).

Download a printable version of the Plan Highlights

Download a printable version of the Plan Highlights in Spanish

Eligibility

All permanent employee are eligible.

Contributions

Employer Contributions

The Employer contributions are pre-tax.

• County Contribution - The County will contribute an amount equal to 4.2% of a participant’s base compensation for all General employees, hired after 2/8/81.
• Matching Contributions - The County's matching contribution to your 457 Plan contribution is deposited in the 401(a) Plan.

Employee Contributions

• Employee contributions are after-tax only and are not considered Roth contributions. You can make changes to your after-tax contributions at any time in PRISM. Changes are effective the following pay period.

Vesting

You are always 100% vested in your contributions and the County’s matching contributions.

You are fully vested in the County 4.2% contribution after 5 years.

Beneficiaries

You may update your beneficiaries by logging into your account or by calling Voya at (800) 584.6001.

First time users

From the Account Log in area of the homepage, click Register Now and follow the prompts to register for online account access.

You will be asked to prove your identity by providing personal information and a Personal Identification Number (PIN) that was provided to you after you enrolled. If you don't have your PIN, you can follow the links to request a new PIN to be delivered to your mobile number, email or U.S. mail address on file.

Investments

You may select from a variety of investment options. Initially, your contributions are invested in a Target Date Fund* based on your birthdate. You may change this investment allocation at any time. Schedule a meeting with a Voya Representative to learn more about your investment options and the fees associated with each option. *Target Date funds target a certain date range for retirement, or the date the investor plans to start withdrawing money. Investors can select the fund that corresponds to their target date. They are designed to rebalance to a more conservative approach as the date nears. An investment in the Target Date fund is not guaranteed at any time, including on or after the target date.

Loans

You may request a loan up to the lesser of $50,000 or 50% of your vested balance in the plan, minus your highest outstanding loan balance in the past 12 months. Loans are repaid through payroll deduction. To model a loan, log into your account or call Voya at (800) 584-6001.

Type of Loan and Repayment Requirements

• General Purpose Loans must be repaid over no more than five (5) years (60 months).​
• Residential Loans must be repaid over no more than 30 years (360 months).

Loan Repayments

You may prepay the entire unpaid principal amount of your loan at any time. There are no penalties for prepaying your loan.

Unpaid loan amounts will be considered a distribution and may be subject to taxes.

Distributions

Distributions are allowed only upon: 

• separation from service;
• disability; or
• death.

You may not take any distributions while you remain employed.

What are the options for payment of my benefits under the Plan?

• Lump sum, or partial lump sum distribution, in combination with other options.
• Systematic withdrawal option (SWO) of a specific amount or over a designated period.
• Distribution over your lifetime and/or the lifetime of your designated beneficiary.
• Roll over eligible benefits into another employer-sponsored 401 qualified plan, a 403(b) tax deferred annuity plan, or another governmental 457 deferred compensation plan, or to a traditional or Roth IRA.

How will my benefits be taxed?

County contributions and your earnings are taxed when you withdraw your money. If you contribute on an after-tax basis, your contributions are taxed at the time they are deposited.

When am I required to begin receiving distributions?
Individuals who reach age 72 after December 31, 2022, and age 73 before January 1, 2033 must begin to take distributions no later than the April 1st of the calendar year following the calendar year in which they reach age 73 or retire, whichever occurs later. The IRS imposes a 25% excise tax on the required amount if you do not take the required minimum distribution timely.

Anyone who wishes to obtain a current copy of the Information Booklet and fund prospectuses may contact his/her Voya representative or call (800) 584-6001. Securities are offered through Voya Financial Partners, LLC (Member SIPC), and any other authorized broker/dealers that have selling agreement with Voya.

Voya does not offer tax or legal advice. You should consult with a tax advisor and /or tax attorney concerning your personal situation before making a financial / investment decision.

You should consider the investment objectives, risks, and charges and expenses of the variable investment options offered through a retirement plan, carefully before investing. The fund prospectuses and information booklet containing this and other information can be obtained by contacting your local representative. Please read the information carefully before investing.