Florida State University offers all eligible employees the opportunity to participate in voluntary retirement plans. These retirement plans offer salaried and OPS employees the opportunity to save pre-tax and post-tax money for retirement, up to the IRS limit for each plan type.
Participation is voluntary and deposits are made through payroll deduction. Employees may enroll and make changes to contributions at any time.
| Executive Service | Faculty | A&P | USPS | OPS | |
|---|---|---|---|---|---|
| Voluntary Retirement Plans | X | X | X | X | X |
| Age | Contribution Limit |
|---|---|
| < 50 | $22,500 |
| 50 > at any point in 2023 | $30,000 |
Florida Deferred Compensation 457 Plan
All FSU employees can participate in a Deferred Compensation 457 Plan. Enrollment is completed through one of the approved provider companies or through the Florida Deferred Compensation Office.
403(b) Savings Plans
All FSU employees can participate in a voluntary 403(b) Savings Plan; including a 403(b) Tax-Sheltered Annuity and/or a Roth 403(b).
A Tax-Sheltered Annuity 403(b) Savings Plan account allows participants to save money for retirement while reducing their income tax liability. A Roth 403(b) account allows participants to pay taxes on contributions now but receive qualified withdrawals (including earnings) tax-free at retirement. Contributing to either plan is voluntary. Contributions are payroll deducted on a pre-tax basis for Tax-Sheltered Annuity 403(b) participants and/or on a post-tax basis for Roth 403(b) participants and are forwarded to a participating investment company.
How do I enroll in a 403(b) plan, or make changes to my contribution amount? If you have not already done so, please contact one of the investment companies to create a new 403(b) account. Once you have created a new 403(b) account, you will need to create an individualized dashboard in Retirement@Work. Through your individualized dashboard, you can change contribution amounts, change investment providers, or set up an automatic increase.
