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Learn all about your retirement benefits and use the checklists on each page to help you prepare for retirement.
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403(b) vs. 457(b)
For additional retirement savings, you may elect to choose to contribute to the 403(b) or 457(b) plan or both, which provide options for deferring pretax (and in some cases after-tax) income for retirement saving. What chiefly distinguishes the plans are how they consider and penalize withdrawals.
GET STARTED
Use the links below to access detailed information about your plan options.
QUICK LINKS
The links below will help you access key retirement resources and vendor websites.
PLAN INFORMATION
TRSGA WebsiteORP Enrollment Book
ORP FAQs
ORP Plan Documents
ENROLLMENT INFORMATION
403(b) & 457(b) Plans Enrollment Book
VENDOR INFORMATION
Fidelity InvestmentsTIAA
VALIC
DISTRIBUTION REQUEST CONTACTS
Retirement Plan Authorized SignatoriesCALCULATOR
403(b) VS. 457(b)
403(b)
457(b) Governmental
ELIGIBILITY
All exempt and non-exempt employees with the exception of student workers may enroll at anytime during employment
All exempt and non-exempt employees with the exception of student workers may enroll at anytime during employment
CONTRIBUTION RATE
Employee elective deferrals
$18,500 in 2018
Age 50 or over + $6,000 (2018)
Employee elective deferrals
$18,500 in 2018
Age 50 or over + $6,000 (2018)
BENEFIT AT RETIREMENT
Account balance accumulated at the time of retirement
Account balance accumulated at the time of retirement
VESTING
Immediately 100% vested (retain ownership interest)
Immediately 100% vested (retain ownership interest)
LOANS
Loans may be permitted
Loans may be permitted
WITHDRAWALS
Withdrawals permitted after a distributable event occurs (e.g., retirement, death, disability, severance from employment)
Inservice withdrawls are allowed at age 59 1/2
Providing that the employee is no longer working, you must begin receiving distributions by April 1 following the later of year of retirement or attainment of age 70½
Hardship withdrawals permitted
Early withdrawals subject to 10% additional tax
In service withdrawals can be used for TRS service purchase
Withdrawals permitted after severance from employment
Providing that the employee is no longer working, you must begin receiving distributions by April 1 following the later of year of retirement or attainment of age 70½
Distribution for unforeseen emergencies allowed
Early withdrawals prior to age 59 ½ are not subject to 10% additional tax
In service withdrawals can be used for TRS service purchase
ROLLOVERS / TRANSFERS
Rollovers permitted to an eligible retirement plan
Transfers permitted from one 403(b) to another 403(b)
Rollovers permitted to an eligible retirement plan
Transfers permitted from one government 457(b) to another government 457(b)
HOW TO ENROLL
To enroll in the 403(b) or 457(b) plans, contact your local Human Resources Department for assistance.
- Select a plan (403(b) or 457(b)) or both
- Select your Investment Provider
- Set up your investment account with your selected provider
- Complete a salary reduction agreement and submit to your local HR department along with your account confirmation from your selected retirement Plan Vendor