Supplemental Retirement Accounts

401(k), 403(b), and 457(b)

Supplemental tax sheltered retirement plans are available to benefit eligible employees. Contributions are not matched by the University, but they are deducted before income taxes and deposited each pay period with the provider or providers chosen by the employee. Changes to contribution amounts can be made at any time by completing and submitting a new salary reduction form.

Salary Reduction Authorization Form

401(k)

PERSI Choice plans are defined contribution plans available to PERSI participants that are board appointed or temporary employees working 20 hour/week for 5+ months. The contribution limit for calendar year 2013 is $17,500, with an additional $5,500 for “catch up contributions” for employees age 50 or over. This limit is shared with 403(b) accounts. For more information and enrollment forms, please visit the PERSI website.

403(b)

The 403(b) plans are defined contribution plans are available to all benefit eligible employees through a select group of vendors (below). Once the employee has established a vendor account, he or she needs to submit a completed Supplemental Retirement Salary Reduction Form to Payroll and Benefit Services. The contribution limit for calendar year 2013 is $17,500, with an additional $5,500 for “catch up contributions” for employees age 50 or over. This limit is shared with 401(k) accounts.

See the Vendor List for more information

457(b)

The 457(b) is a non-qualified deferred compensation plan that is available to all benefit eligible employees through a select group of vendors (below).  The contribution limit for calendar year 2013 is $17,500, with an additional $5,500 for “catch up contributions” for employees age 50 or over. This limit is separate from 401(k)/403(b) accounts.

See the Vendor List for more information

Once the employee has enrolled with one of the above vendors, he or she needs to complete the Supplemental 'Salary Reduction Authorization Form' and return to Payroll and Benefit Services.