Supplemental Retirement Plans
LSU offers multiple options to help employees save for the future. The supplemental retirement program includes 403(b) and 457 (b) plans. Employees may make paycheck contributions before and/or after taxes. Employees can enroll at any time of the year and contributions can be changed, stopped, or re-started throughout the year. Please take a moment to review the benefits of a supplemental retirement account and which plan will best help you plan for retirement.
LSU cannot guarantee the success of the Supplemental Retirement Plans or the level of service and we urge you to fully review the product before you participate.
403(b) and Roth 403(b) Plans
The 403(b) plan allows LSU employees to contribute additional money to retirement through paycheck deductions. Accounts are available through Corebridge, Fidelity, and TIAA.
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an account is open for at least five years and the employee has turned age 59 1/2, every cent in a Roth 403(b) could be withdrawn tax-free.
Step 1. Set up Paycheck Contribution
Visit MyRetirementManager.com to register, choose your paycheck contribution amount and select your vendor. Retirement Manager Instructions
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.
- Fidelity Investments: netbenefits.com/LSU
- TIAA: tiaa.org/lsusystemtda
- Corebridge: lsu.valic.com
To change your Paycheck Contribution
Visit www.MyRetirementManager.com to update your paycheck contribution.
|
Fee/Cost Type |
TIAA |
Corebridge |
Fidelity |
|---|---|---|---|
|
Administrative Fee % |
0.095% |
0.13% |
0.12% |
|
Investment Cost %* |
0.16% |
0.16% |
0.16% |
|
Total Cost % |
0.255% |
0.29% |
0.28% |
*Unweighted average of available funds
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 Enrollees | 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 | ||
Retirement Manager is a web-based tool, which allows employees participating in a 403(b), and Roth 403(b) access to their accounts anytime and anywhere, 24 hours a day, seven days a week. Once enrolled in the Retirement Manager system employees participating in one of these accounts will be able to:
- Electronically submit new enrollments and contribution changes
- Request a Distribution Eligibility Certificate for:
- Severance from Employment
- View aggregate balance information across all active, and legacy 403(b) investment providers
- Request a Distribution Eligibility Certificate for the following transactions:
- Loan
- Hardship Withdrawal
- In-Service Exchange
Participants can contact Retirement Manager Support for login assistance, general navigation questions, and how to use the enrollment and disbursement transaction screens regardless of their investment provider selection. Please note that account specific questions related to a particular provider should be addressed directly to the provider.
Please contact Retirement Manager Support Line at 1-866-294-7950 Monday through Friday (excluding holidays) from 7:00 a.m. to 6:00 p.m. CST.
Annual Maximum Deferral Amount = $22,500
Annual Maximum Deferral Amount for participants age 50 and older = $30,000
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.
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.
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 Instructions - Empower login information.
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 = $22,500
Annual Maximum Deferral Amount for participants age 50 and older = $30,000
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.
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.
Contact Us
LSUHSC Benefits
433 Bolivar Street, 6th Floor
New Orleans, Louisiana 70112
(504)568-7780
Fax: (504) 568-2212