Participants in the City of Austin’s Deferred Compensation Program may elect to invest funds in the Velocity Credit Union Option as one of their available investment options. This fund offers a money market-type rate that is set on a quarterly basis. Deposits made in this option by Velocity Credit Union members are federally insured to $100,000.00 by the NCUA, a U. S. Government Agency. The Velocity Credit Union Option is the only federally insured fund available in the Deferred Compensation Plan. For information on how to participate in the City of Austin’s Deferred Compensation Program or the Velocity Credit Union Option, contact Great West/Benefits Corp. at (512) 457-9240 or 1-877-613-6189.

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* Participation in the deferred compensation plan is available only to City of Austin employees or former employees who began participation during their employment.