OTHER RETIREMENT INFORMATION

State 401(k) Plan administered by Prudential.

All non-temporary employees are allowed to participate in a state-sponsored Supplemental Retirement Plan.  This plan allows the employee to contribute to an investment program that will defer income taxes on both the employee's investment and the income on the investment until a later time.  
You decide how much you want to contribute through payroll deduction up to the maximum allowable limits. Remember, the money you contribute is deducted from your paycheck before taxes so you're lowering your taxes every payday!

                                                                                                                                                                                                         No minimum contribution required

Maximum: 80% of earnings not to exceed Contribution limits

Year Contribution Limits

Catch-up Contributions               Over age 50

2013 $17,500 $5,500
2014 $17,500 $5,500

State Roth 401 Plan administered by Prudential.

All non-temporary employees are allowed to participate in a state-sponsored Supplemental Retirement Plan.  This plan allows the employee to contribute to an investment program using after tax earnings.
You decide how much you want to contribute through payroll deduction up to the maximum allowable limits.

 

403(b) OPTIONS - All employees, including part-time, are allowed to participate in a 403(b) Supplemental Retirement Plan. 

We offer several options for participants of 403(b) plans. 

This plan allows the employee to contribute to an investment program that will defer income taxes on both the employee's investment and the income on the investment until a later time.  
You decide how much you want to contribute through payroll deduction, up to the maximum allowable limits. Remember, the money you contribute is deducted from your paycheck before taxes so you're lowering your taxes every payday!

Coordination is required between 401(k), Roth 401(k) and 403(b) plans. The maximum combined deferral amount in 2014 is $17,500. Employees age 50 or over may be eligible to contribute an additional $5,500 in 2014. These limits may adjust annually. For more information on plan features, vendors currently available under the plan, and steps to enroll, please access the plan Information Portal.

To start, stop or change your 403(b) contributions via payroll, please complete a Salary Reduction Form.

 

State 457(b) Plan administered by Prudential

All non-temporary employees are allowed to participate in a state-sponsored 457 (b) Supplemental Retirement Plan.  This plan allows the employee to contribute to an investment program that will defer income taxes on both the employee's investment and the income on the investment until a later time.  
You decide how much you want to contribute through payroll deduction up to the maximum allowable limits. Remember, the money you contribute is deducted from your paycheck before taxes so you're lowering your taxes every payday!
Coordination is not required between 457(b) and 401(k), Roth 401 or 403(b) plans.  The maximum combined deferral amount in 2014 for an eligible participant who is contributing to both a 457(b) and 401(k) or a 403(b) plan is $35,000.  

For detailed information on the plan and investment performance please visit the State 401 and 457 Website