Deferred Compensation

Under current tax law Middle Tennessee State University employees are permitted to put aside a portion of gross income and defer paying taxes on that income and the interest it earns until such time as you actually receive the funds (generally upon retirement).  The university offers a variety of deferred income plans, which make it possible for employees to take advantage of this provision in the law. Enrollment in these programs is voluntary and the decision to participate resides solely with each employee.  Deferred Compensation plans are geared for retirement, so contributions cannot be withdrawn before separation from service unless indicated by the plan document.  If you have any questions regarding eligibility or enrollment, please contact the HRS office at 898-2929.

2023 Maximum Contribution Limits

401(k) and 403(b) combined maximum age 50 or older:     $30,500
401(k) and 403(b) combined maximum under age 50:        $23,000
457 maximum age 50 or older:                                            $30,500
457 maximum under age 50                                                $23,000


2017 Annual Deferred Compensation Notice

2018 Annual Deferred Compensation Notice

2019 Annual Deferred Compensation Notice

2020 Annual Deferred Compensation Notice

2021 Annual Deferred Compensation Notice

2022 Annual Deferred Compensation Notice

2023 Annual Deferred Compensation Notice

2024 Annual Deferred Compensation Notice
 

403(b) Plan

A 403(b) plan is a supplemental retirement plan which allow employees to save for retirement on a tax-deferred basis.  Contributions are made through regular payroll deductions and can be invested with any of the approved vendors.  Vendors are listed below along with each plan representative contact information.  Once enrolled in a 403(b) plan, employees must submit a 403(b) Payroll Deduction Form to the MTSU Human Resources office. Contributions into a 403(b) plan cannot be withdrawn until separation from service.

VOYA 
214 Second Avenue North, Suite 2
Nashville, TN 37201
Ed Stewart, CFS, ChFC, CLU
(615) 627-5936
ed.stewart@voyafa.com

or

Quest Financial Group, LLC
720A S. Church St.
Murfreesboro, TN 37130
Gina Embry, CFP
(615) 962-9122 phone
(615) 962-9131 fax

TIAA-CREF
730 Third Avenue
New York, NY 10017
1-800-223-1200

401(k), Roth