Deferred Compensation (457) Plan
Deferred compensation is a supplemental retirement savings option which is administered by Empower for all Kansas State employees. The annual contribution limits are established by the IRS. Employees who are age 50 or above may qualify for a higher annual limit.
When Eligible: Any employee – benefits-eligible or non-benefits-eligible – may begin participating on the first day of employment.
Who Pays: The employee contributes pre-tax dollars up to the individual maximum. The University makes no contribution to this plan.
How do I enroll: A representative can meet with you to enroll or you can enroll online (pdf). It will be effective as of the first payroll processing date in the next month once complete and accurate information is received.
What are the investment choices: The retirement plan provider is Great West Financial and is offered through KPERS. See the link below for additional information.
Is there a minimum contribution amount: You can start with as little as $12.00 per payroll.
What if I need to change my deferral amount: You can start, stop or change your deferral amount at any time on-line or by meeting with your financial advisor.
Can I roll over old Retirement Plan Accounts: Probably yes, but you need to talk with your Financial Advisor and provide them information such as type of retirement plan. They will be able to work with you through the entire process.
When can I take a distribution: Participants may access funds after termination, retirement, death, or for an approved hardship or loan. You work directly with your Great West Financial Advisor.
Access Your Account:
Related KSU Policy and Procedures Manual Chapter
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