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an account is open for at least five years and the employee has turned age 59 1/2, every cent in a Roth 457(b) could be withdrawn tax-free. 

Enrollment/Contribution Changes

Enroll Online

Current participants can make deferral changes online at Louisiana Public Employees Deferred Compensation Plan website

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.

Enrollee and Participant Considerations 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 = $19,500

Annual Maximum Deferral Amount for participants age 50 and older = $26,000

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. Contact Deferred Compensation at 1-(800) 701-8255 to begin your distribution after separation. 

 

empower retirement advisor

Patrick Hannie

225-663-5506
225-326-4474 

Please take a moment to schedule an appointment to meet with me if you would like a review of your account, need enrollment assistance, or planning for retirement!

Book an Appointment!

Let’s do a review of your account! 

  • Do you need to update your beneficiary designations?  
  • Do you need to change your contribution elections from future payrolls?
  • Do you need to update your investments?

Let’s make sure that if you did these things yourself on the website that it also updated on my side.

Are you not enrolled? 

  • Call me and I can walk you through enrolling online

For LASERS Participants: Are you in the LASERS Self Directed Plan (DROP/IBO) or about to be? 

  • Let’s review your investments
  • Let’s go over the rules for the LASERS Self Directed Plan

For any university employee with a LA Deferred Comp Account: Are you thinking of retirement or about to retire? 

Let’s talk about your options!

  • 300 hrs. of leave
  • Excess leave
  • What happens in or to my accounts at retirement?

 

forms & resources

457(b) Fee Information

Plan Features & Highlights

457(B) Plan Document

Fund Performance