Voluntary Retirement Plans offer OSU/A&M employees an opportunity to set aside retirement savings on a voluntary basis. OSU/A&M employees have three options: 403(b) Plan, Roth 403(b) Plan, and 457(b) Plan. You decide how much money to contribute within the guidelines set by the Internal Revenue Service. Elected contributions will be deducted from your regular paycheck on a pre-tax basis (federal and state withholdings but not FICA), or you may contribute on an after-tax basis with the Roth 403(b) Plan. Contributions are remitted to TIAA, the plan provider. All contributions are immediately vested.
All employees paid through the OSU/A&M payroll system, including student and temporary employees, are eligible to participate regardless of classification, percent of time employed, or length of appointment.
Minimum contribution is $15 per month for each plan. Maximum tax-deferred contribution limit is established by Internal Revenue Service regulations and is $18,000 for 2017 and $18,500 for 2018. Employees who are at least age 50 may contribute an additional $6,000. You may contribute the maximum amount for both a 403(b) plan and a 457(b) plan.