Fairfax County Public Schools ("FCPS") sponsors a 457(b) Plan to provide eligible employees, as defined in the Plan, with the opportunity to save for retirement on a tax-deferred basis. The Plan is a long-term retirement savings vehicle and is intended as a source of retirement income for eligible participants. The investment options available from the Plan cover a broad range of investment risk and rewards appropriate for these kinds of retirement savings programs. Participants bear the risk and reap the rewards of investment returns that result from the investment options they select. The Plan falls under section 457(b) of the Internal Revenue Code.

The 457(b) Plan was designed to be both a complement and an alternative savings vehicle to the 403(b) program. The 457(b) Plan was established with six investment options reflecting the intent to provide less complexity in the number of choices. Fund options may be added or subtracted from time to time in order to meet overall objectives. The objective is to sponsor a plan that is relatively simple to understand, cost-effective for the participants, offers core investment options, and has minimal administrative involvement.

The Plan will provide a broad range of investment choices to reflect the different risk tolerances common among participants in retirement savings plans. The Plan is intended to provide the participants of the Plan the opportunity to save for retirement on a tax-deferred basis and participants will be given the flexibility to alter their investment choices and the direction of existing and future contributions. Participants alone bear the risk of investments results from the options and asset mixes that they select. The philosophy of the Plan will be a primary consideration in the Fairfax County Public Schools' Deferred Compensation Investment Committee's (the "Committee") decision-making process. The Committee does not provide investment advice to participants or assist participants in selecting the funds in which to invest. Fiduciaries are not responsible for losses of participants resulting from the participant's investment selection, or from any action taken in accordance with the participant's investment direction.

It is the intention of the Committee, that the assets of the Plan shall be maintained in compliance with all applicable laws governing the operation of the Plan.

Plan Documents

Deferred Compensation Investment Committee

Investment Committee Meeting Materials

2023 Materials:

4th Quarter Review – March 18, 2024

3rd Quarter Review – December 13, 2023

Off-Cycle Meeting – November 13, 2023

Off-Cycle Meeting – October 31, 2023

2nd Quarter Review, September 20, 2023

1st Quarter Review, May 24, 2023

2022 Materials:

4th Quarter Review, March 22, 2023

Off-Cycle Meeting, February 27, 2023:

3rd Quarter Review, December 14, 2022

Off-Cycle Meeting, December 1, 2022 (rescheduled from November 10, 2022):

2nd Quarter Review, September 28, 2022

Off-Cycle Meeting, August 29, 2022:

1st Quarter Review, Spring 2022

2021 Materials:

For materials prior to 2021, please contact the Office of Benefit Services by emailing [email protected] or calling 571-423-3200.