|University Voluntary 457(b) Retirement
Note: The University makes no contribution to this Plan.
This voluntary plan is designed for regular full and part-time employees who are already maximizing their allowable contributions to the 403(b) Retirement Plan. Although there are no University contributions to the Plan, the tax benefits of participating in a 457(b) Plan make it very attractive for supplemental retirement savings. For further information please refer to the 457(b) Deferred Compensation Plan Annual Contribution Limits.
Administered by Fidelity Investments and Teachers Insurance and Annuity
Association (TIAA) - College Retirement Equities Fund (CREF), the Plan
offers the same investment options as the 403(b) Retirement Program.
There are various income options at retirement, including lifetime annuity
income, fixed period annuities, deferred income, systematic withdrawals,
lump sum withdrawals, and interest-only payments. There are also some
differences in the distribution rules for the 403(b) and 457(b) Plans.
Please contact the Office of Human Resources for further information.
For more information:
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