403(b) and Roth 403(b) Plans
The 403(b) plan offers LSU employees several options in terms of whom they can invest their money. Along with several vendors to choose from, numerous funds are also available which can diversify a retirement portfolio.
Roth 403(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 403(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an account is open for at least five years and the employee has turned age 59 1/2, every cent in a Roth 403(b) could be withdrawn tax-free.
Enrolling and/or Inquiries
Step 1. Set up Paycheck Contribution
Visit www.MyRetirementManager.com to register, choose your paycheck contribution amount and select your vendor.
Step 2. Enroll with your Chosen Vendor
Once you have selected your vendor, visit their website to set up your account and enroll in the Plan.
Need Help? Schedule an Appointment with a Representative
|Company||How to Request an Appointment|
|Fidelity||Meet with your Fidelity Retirement Planner by calling 800-642-7131 or visit netbenefits.com/LSU and click the Contact Us tab, then Meet.|
|TIAA||If you would like to schedule an appointment with a local TIAA financial consultant, call 800-732-8353 weekdays, 7 a.m. to 7 p.m. (CT) or visit TIAA.org/schedulenow.|
Call the VALIC Baton Rouge office at 225-201-1009 to schedule an appointment; or visit https://my.valic.com/Seminars use codes:
Laura Golubev: 4712BAT11AB William Gallegos: 2718BAT11AN
Retirement Manager Support Line: 1-866-294-7950
The participant support line is available Monday through Friday (excluding holidays) from 7:00AM to 6:00PM Central time.
Please remember, investing in a 403(b) and/or 457(b) supplemental retirement account is not free. Each vendor (company) charges fees, such as record-keeping and in some cases, fees for distribution-related expenses in addition to expenses and fees based on your investment allocation. As a new enrollee in one of these plans, it is up to you to compare and consider the benefits offered by each vendor. New and current participants should confirm all costs associated with their investments, as well as any charges and restrictions associated with your existing contract before requesting a transfer for current participants.
New Enrollee or Current Participant
|New Enrollee's||Current Participants|
|Compare benefits offered by each vendor||X||X|
|Confirm all costs associated with your investment options||X||X|
|Confirm any changes and restrictions associated with your existing contract before initiating a transfer||X|
|Annual Maximum Deferral Amount||$19,000|
|Annual Maximum Deferral Amount for participants age 50 and older||$25,000|
Maximum contributions to both a 403(b) and 457(b) account can be made at the same time. Employees may switch supplemental retirement account vendors at any point during the year.
LSU cannot guarantee the success of the SRA products or the level of service and we urge you to fully review the product before you participate.
Termination of employment with LSU allows funds to be rolled over to an IRA or other qualified plan. Early withdrawal penalties will be assessed if money is withdrawn prior to obtaining age 59½.