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Tax Deferred Annuity Plans (403b & 457b)

   
The 403(b) and 457(b) are tax deferred retirement plans available to employees of educational institutions and certain non-profit organizations as determined by section 501(c) of the Internal Revenue code. Contributions and investment earnings grow tax deferred until withdrawal, at which time they are taxed as ordinary income.

Contact Ms. Susan Miller, Senior Human Resources Specialist, at 2-6248 for specific information about the 403(b) and 457(b) program.

 

Participating Companies

Fidelity 
Voya  Financial
Teachers Insurance & Annuity (TIAA-CREF) 
VALIC

Louisiana Public Employees Deferred Compensation Plan

 

Annual Elective Deferral Limits

403b Annual Deferral Limits

  • $18,000 for 2016

  • $18,000 for 2015

  • $17,500 for 2014

  • $17,500 for 2013

 

Catch-up provision for employees who are age 50 or above

  • Additional $6,000 for 2016

  • Additional $6,000 for 2015

  • Additional $5,500 for 2014

  • Additional $5.500 for 2013

 

457b Annual Deferral Limits

  • $18,000 for 2016

  • $18,000 for 2015

  • $17,500 for 2014

  • $17,500 for 2013

Any participant age 50 or above may contribute up to $24,000
You may be able to contribute up to twice the annual limit for 2016 if you are within three years of normal retirement age. The additional amount you may be able to contribute under the standard catch-up contribution will depend upon the amount that you were able to contribute in previous years but did not.
 
If you are eligible for both catch-up options, you may not contribute to both in the same year.