Supplemental Savings Programs
To maximize your retirement savings, consider enrolling into one of the 3 voluntary retirement programs available to eligible employees. You decide the amount you want to contribute within IRS limits. These programs allow eligible employees to save toward retirement by investing pre-tax contributions in tax-deferred investments. The deferred income is not subject to current state and federal income taxes. Instead, funds are taxed in the year that they are withdrawn.
- Tax Shelter Annuity – 403(b), Administered by Fidelity. All employees are eligible to participate in a 403(b), regardless of time base (with the exception of certain student classifications),including rehired annuitants
- Thrift Plan – 401(k) and; Deferred Compensation Plan – 457, Administered by Savings Plus Program. Eligible for 401(k) or 457 enrollment? Get the Facts
For more information, refer to the Your HR Representatives and contact your Benefits Service Representative.