457(b) and Roth 457(b) Plans

 

The 457(b) plan offers LSU employees one option through the State of Louisiana Deferred Compensation Plan with Empower Retirement. This plan allows employees to defer a pre-tax portion of earnings into a supplemental retirement account. 

The Roth 457(b) feature provides an additional way to save for retirement. Employees may make contributions on an after-tax basis under the Roth option, on the pre-tax basis under the 457(b) plan, or a combination of the two. Although the Roth option doesn't change how much can be contributed, it does provide more control over when contributions - and retirement income - will be subject to federal income tax. If an account is open for at least five years and the employee has turned age 59 1/2, every cent in a Roth 457(b) could be withdrawn tax-free. 

Enrolling and/or Inquiries

For a 457(b) supplemental retirement account, contact Reggie Wheeler at reggie.wheeler@empower-retirement.com, 225-663-5506 or complete the Participant Flyer and return to the listed address/email for more information. 

Current participants can make deferral changes online here.

Maximum Deferral Amount Limits

Calendar/Plan Year 2015
 Annual Maximum Deferral Amount $18,000
Annual Maximum Deferral Amount for participants age 50 and older $24,000

 

To adjust contributions to an active 457(b), submit the  Salary Deferral Agreement to 110 Thomas Boyd Hall.

Learn about the 403(b) and Roth 403(b) plan here.

Termination of employment with LSU allows funds to be rolled over to an IRA or other qualified plan or receive a cash distribution without an early withdrawal penalty. Submit the Distribution Separation form to 110 Thomas Boyd for processing.