Collin County offers three deferred compensation plans as allowed by Section 457 of the Internal Revenue Code. The plans are administered by Hartford Life Insurance Company, Nationwide Insurance, and AIG VALIC. These are optional retirement plans that allow employees to make tax-deferred contributions to supplement their retirement plans. Employees may defer up to 25% of taxable income, or a maximum amount allowed by the IRS (currently $16,500 for 2009), whichever is less, to the plan through payroll deductions. Employees can participate immediately upon employment and can select from a variety of options to invest their money. The county does not contribute to these plans.