Tax Sheltered Annuities 403(b)The 403(b) plan is an optional retirement savings program that allows deferral of State and Federal taxes on up to 100% of gross salary to a maximum of $17,000 through salary reduction. If you will be age 50 or over in 2012, you may also contribute up to an additional $5,500 for a total of $22,500. There is no University matching. The University's 403(b) plan has three providers to choose from:
The 403(B) Program is administered by the Treasurer's Office. Please call (774) 455-7586 or click here for more information about the 403(B) Retirement Plans, and how to open an account.
457 State Deferred Compensation Program (SMART Plan)The SMART Plan is an optional retirement savings program that allows deferral of State and Federal taxes on up to 100% of gross salary to a maximum of $17,000 in 2012 through payroll deduction. If you will be age 50 or over in 2011, you may also contribute up to an additional $5,500, for a total of $22,500. The SMART Plan has a "Special Catch-up" provision which may allow you to contribute even more; certain restrictions apply. There is no University matching. Employees have a choice of investment options, including mutual funds. The plan is administered by Great-West Retirement Services. Employees must contact a representative from the SMART Plan to open an account. 2012 Contributions Limits Memo Please call (877) 457-1900 or visit the SMART Plan website. Click here for more information about the 457 Retirement Plan. The PDF files on this page require the free Adobe Acrobat Reader. |
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This page last updated on January 24, 2012. |
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