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Benefits: Retirement: Supplemental Retirement Options

401(k)
403(b)
457(b)
How to Begin
Supplemental Retirement Programs

Supplemental Retirement Programs

All benefit eligible University employees are eligible to participate in supplemental retirement plans. Faculty, classified and professional staff, enrolled in PERSI as their regular retirement plan, may also enroll in the 403(b), 401(k), and the 457(b) plans. Faculty and professional staff enrolled in the ORP as their regular retirement plan may enroll in the 403(b) and the 457(b) plans.

Supplemental Retirement Investment Options

The 403(b) is a retirement savings plan, which can only be offered by public school systems and other tax-exempt organizations. It is a tax-sheltered annuity where the employee may invest in annuities or mutual funds. It is very similar to qualified plans such as 401(k). It is entirely employee funded; Idaho State University does not contribute to this plan. Payroll deductions are pre-tax. Benefit eligible employees may enroll at any time. To sign up, the employee must complete the salary reduction agreement form and an enrollment form with the company administering the 403(b). The employee may participate with the following approved 403(b) vendors:

AIG-VALIC	Duane Rawlings 63 Stanford Pocatello, ID 83201 (208) 233-3396
American Express Financial Adv.	Ron Petersen Pocatello, ID (208) 232-6594
CUNA Brokerage/Plan America	Adam Serr 865 S. Woodruff Ave. Idaho Falls, ID 83401 (800) 369-2862
IEA Financial Services	IEA Financial Services PO Box 83707 Boise, ID 83707 (800) 332-8327
TIAA-CREF	Scott Duerden 420 Wakara Way, Suite 200 Salt Lake City, UT 84108 (866) 842-2907
Travelers	Lee Mathie PO Box 4843 Pocatello, ID 83205 (208) 232-3550
Waddell & Reed	Dawna Funk 410 Memorial Dr. Suite 202 Idaho Falls, ID 83402 (208) 529-3993

 

457(b): Idaho State University also offers employees an opportunity to enroll in an IRC Section 457(b) plan, commonly known as deferred compensation. Benefit eligible employees are able to contribute pre-tax dollars to this plan through payroll deduction to the following companies:

AIG-VALIC	Duane Rawlings 63 Stanford Pocatello, ID 83201 (208) 233-3396
Nationwide Retirement Solutions	Randy Grow PO Box 3353 Idaho Falls, ID 83403 (208) 524-4220
TIAA-CREF	Scott Duerden 420 Wakara Way, Suite 200 Salt Lake City, UT 84108 (866) 842-2907

 

401(k)-PERSI Choice Plan: The 401(k) Choice Plan is a defined contribution plan, meaning that the amount you receive at retirement is based on your contributions and earnings in the plan. It is only available to active PERSI members. The Choice Plan contains your gain sharing distributions, any voluntary contributions you make, and the earnings on those funds. Payroll deductions are pre-tax. For further details, please refer to the PERSI handbook available online at: http://www.persi.state.id.us/. To enroll, please call toll-free 1-866-ID-PERSI.

How to Begin

To begin participating in these supplemental investment options, please complete a Salary Reduction Agreement with Human Resources. For contribution limits and vendor specific enrollment forms, please contact your supplemental retirement vendor of choice. Contact Human Resources at (208) 282-2517 with questions.