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an account is open for at least five years and the employee has turned age 59 1/2, every cent in a Roth 403(b) could be withdrawn tax-free.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
For employees who are interested in opening a 403 (b) Supplemental Retirement Account, please visit Retirement Manager.
Maximum Deferral Amount Limits for 403(b) and Roth 403(b)
|Annual Maximum Deferral Amount||$18,000|
|Annual Maximum Deferral Amount for participants age 50 and older||$24,000|
To adjust contributions, submit the Salary Reduction Authorization form to 110 Thomas Boyd Hall.
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 Early withdrawal penalties will be assessed if money is withdrawn prior to obtaining age 59½.