{"id":15476,"date":"2020-01-08T20:45:01","date_gmt":"2020-01-09T01:45:01","guid":{"rendered":"https:\/\/www.rochester.edu\/human-resources\/?page_id=15476"},"modified":"2026-01-12T13:24:37","modified_gmt":"2026-01-12T18:24:37","slug":"deferred-compensation-457b-plan","status":"publish","type":"page","link":"https:\/\/www.rochester.edu\/human-resources\/benefits\/retirement-plans\/deferred-compensation-457b-plan\/","title":{"rendered":"Deferred Compensation 457(b) Plan"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"","protected":false},"author":6,"featured_media":0,"parent":9236,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/one-column.php","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"class_list":["post-15476","page","type-page","status-publish","hentry"],"acf":{"lead_in":"","display_title":"","subtitle":"","call_to_action":"","hero_image_placement":"no_image","hero_media":"images","hero_pattern_option":"","hero_video":"","hero_image_landing":"","hero_image_landing_two":"","hero_image_landing_three":"","content_modules_above":[{"acf_fc_layout":"accordion_new","anchor_id":"","classes":"","title":"","description":"Here's an overview of the Deferred Compensation 457(b) Plan, including eligibility requirements.\r\n\r\n<a class=\"button button--blue\" href=\"https:\/\/www.rochester.edu\/human-resources\/wp-content\/uploads\/2020\/11\/Plan_457b.pdf\">Printer-friendly plan at a glance<\/a>","background":"plain","background_color":"#ffffff","style":"row_blank","expand":"yes","accordions":[{"acf_fc_layout":"accordion","accordion_title":"Eligibility","icon":"","row_content":"Eligible individuals include: Faculty members or staff members in the Senior Leadership Career Stream of the University who meet the following eligibility requirements:\r\n\r\nScheduled to earn annual compensation* in 2026 of at least $170,000 ($10,000 more than the IRS-specified highly compensated employee dollar limit for the year [$160,000 for 2026])\r\n\r\nand\r\n\r\nAre contributing the IRC maximum amount to the University 403(b) Retirement Program ($24,500 for 2026)","accordion_anchor":""},{"acf_fc_layout":"accordion","accordion_title":"Service requirement","icon":"","row_content":"No service requirement","accordion_anchor":""},{"acf_fc_layout":"accordion","accordion_title":"Voluntary Contributions","icon":"","row_content":"Pre-tax salary deferrals\r\n\r\nNote: You may enroll in the Plan any time after you become eligible; however, IRS regulations dictate that enrollments must be processed no earlier than the first of the month following the month in which you enroll.","accordion_anchor":""},{"acf_fc_layout":"accordion","accordion_title":"Contribution Limits","icon":"","row_content":"$24,500\r\n\r\nNote: Catch-Up Contributions permitted the 3 years prior to age 65 (normal retirement age). Please contact the Office of Total Rewards for eligibility and enrollment in catch-up contributions.","accordion_anchor":""},{"acf_fc_layout":"accordion","accordion_title":"Investment options","icon":"","row_content":"Faculty\/staff decide how contributions are invested among a selection of professionally managed funds. For investment option details,\u00a0<a class=\"u-link-external\" href=\"https:\/\/www.tiaa.org\/public\/tcm\/rochester\/investment-options\/plan-100902\" target=\"_blank\" rel=\"noopener noreferrer\">visit TIAA<\/a>.","accordion_anchor":""},{"acf_fc_layout":"accordion","accordion_title":"\u201cCommencement Period\u201d \u2013 Distribution election requirement upon termination\/retirement","icon":"","row_content":"Following separation from service, participants have 60 days to make an election with respect to when they want funds paid. Failure to make an election within the 60-day Commencement Period will result in a lump-sum payment distribution, less applicable taxes withheld.","accordion_anchor":""},{"acf_fc_layout":"accordion","accordion_title":"Funding","icon":"","row_content":"Federal tax and employee benefit rules require the Deferred Compensation 457(b) Plan to be \u201cunfunded.\u201d\r\n\r\nTo defer taxation, i.e., to create an unfunded plan, it is necessary that accounts be subject to potential risk of forfeiture should the University become insolvent. This does not mean that the Plan does not have any assets. The University remits contributions to the recordkeeper, TIAA.","accordion_anchor":""},{"acf_fc_layout":"accordion","accordion_title":"Ownership of assets","icon":"","row_content":"Under Section 457(b) of the Internal Revenue Code, your deferrals under this Plan (including any earnings) must be part of the University of Rochester\u2019s general assets. This means that in the unlikely event that the University of Rochester ever became insolvent, your Plan benefits would be subject to the claims of the University\u2019s general creditors and you might lose part or all of your benefits.","accordion_anchor":""}]},{"acf_fc_layout":"text","anchor":"","css_class":"pt-0","title":"","content":"* Annual compensation for 457(b) eligibility means the current annual pay rate and the previous calendar year\u2019s extra compensation and summer compensation.\r\n\r\nTo enroll, change investments, change your beneficiaries, and to view your account, visit <a class=\"u-link-external\" href=\"https:\/\/www.tiaa.org\/public\/tcm\/Rochester\">TIAA.org\/Rochester<\/a> or call <a href=\"tel:8004106497\">(800) 410-6497<\/a>.\r\n\r\n<a class=\"u-link-pdf\" href=\"https:\/\/www.rochester.edu\/human-resources\/wp-content\/uploads\/2020\/02\/Plan_457b_Brochure.pdf\">See Summary Plan Details<\/a>\r\n\r\n<a class=\"u-link-pdf\" href=\"https:\/\/www.rochester.edu\/human-resources\/wp-content\/uploads\/2020\/02\/Investment_Menu.pdf\">Investment Menu<\/a> \u2013 View a variety of investment strategies that are available to you, consisting of a wide range of mutual funds from well-known financial providers","background_color":"#ffffff","width":"width-medium"}],"sidebar":"show__sidebar","sidebar_feed":"menu_select","menu":"116","page_links":null,"sub_menu":"806","content_modules":[{"acf_fc_layout":"interstitial","anchor_id":"","classes":"","layout":"layout_stacked","lead-in":"One-On-One Help","title":"Get Retirement Planning Assistance","content":"TIAA consultants are available to answer questions, get you enrolled, help make changes to your plan, and provide investment advice.","call_to_action":{"title":"Schedule an appointment","url":"http:\/\/tiaa.org\/urschedule","target":"_blank"},"bg_color":"#00205b"}]},"yoast_head":"<title>Deferred Compensation 457(b) Plan | University of Rochester<\/title>\n<meta name=\"description\" content=\"Plan details and eligibility for the 457(b) retirement plan at the University of Rochester. 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