The State System offers two additional voluntary options to save and invest extra money for retirement. Whether you are supplementing your group retirement plan or you are not eligible to enroll in the group retirement plan, the voluntary retirement plans are available to all employees upon their date of hire.
Employees can choose to contribute up to the annual IRS limits in both plans. There are no employer contributions for these plans.
Your 457 Plan offers a simple, flexible way for you to save for retirement. With it's powerful pretax and/or Roth saving features, investment options and planning resources, you can work toward replacing your working income in retirement - for life. Review your 457 Plan highlights document to see how your 457 Plan can help you save, invest and prepare for retirement.
Tax-Sheltered Annuity - 403(b) Plan
Employees are able to choose from TIAA and/or Fidelity as their TSA vendor and choose from the same core investment lineup as the ARP retirement plan, offered at the lowest possible fee structure. Access to a brokerage window is available for employees who desire investment choices outside of the core lineup with TIAA and/or Fidelity. You have the flexibility to make traditional before-tax and/or Roth after-tax contributions.