Usually with retirement plans, before-tax dollars go into the account, and the funds are taxable upon distribution. Now faculty and staff can contribute to supplemental retirement 401(k) and/or 457 plans, pay the tax each time they contribute to the plan, and not be subject to income tax when the funds are distributed.
To learn more, register for a one-hour introduction here, and choose “HR Training – Online Registration” at the bottom of the page.
Journey to Retirement: Introduction to 401(k) and 457 Roth Accounts
Date: Wednesday, March 1, 2017
Times: 9 – 10 a.m. and 11 a.m. to noon
Place: Academic Success Center, Rm 118 (see map)
OHR benefits counselors are available to assist you with establishing 401(k) and/or 457 accounts and setting up payroll deductions. Contact OHR (Ask-HR/864-656-2000).
Additional Resources
· Supplemental Retirement Programs: Plan Options
· 401(k) and 457 Plan Features and Highlights
· 401(k) and 457 Plan Overview Video
