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CSU 403(b) Supplemental Retirement Plan

Overview

The CSU 403 (b) Supplemental Retirement Plan (SRP) is a voluntary program that allows eligible CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments in either annuities or mutual funds, under Internal Revenue Code (IRC) Section 403 (b). The 403(b) contributions are made solely by the employee through payroll deductions, prior to federal and state taxes being calculated. 

Program Details

  • Eligible employees may have their contributions automatically deducted from the pay warrant.
  • You can contribute a portion of your compensation as pre-tax elective deferrals or after-tax Roth contributions.
  • Eligible employees can defer a minimum of $15 a month, and a maximum pre-tax/post-tax deduction of $19,000 for annually for 2019.
    • This annual limit includes any contributions to a 403(b) and a 401(k) combined.
  • Complementary Fidelity Retirement Planner Consultations, a Brokerage Link, and Portfolio Advisory Services are some of the Program features.

Enrollment Information

Employees may access enrollment, deferral, and investment information at Fidelity NetBenefits.

Change or Reallocation of SRP Contributions

  • To change the amount you contribute or how your funds are invested, login to your account through Fidelity NetBenefits.

  • The cutoff day to make Contribution changes at Fidelity is the 5th of each month before 9PM, for the next month's pay warrant.

Catch-Up Provisions

  • You may be eligible for the 15-Year and/or Age 50 Catch-Up Contribution Allowance.
  • If an employee qualifies for both the 15-Year and Age 50 Catch-Up, the 15-Year Catch-Up must be exhausted before the Age 50 Catch-Up is applied.
  • Employees must demonstrate eligibility by completing the 2019 SRP Maximum Catchup Worksheet and returning it to your HR Benefits Office.

 Loans and Hardship Withdrawals

Fees

Dual Participation

Employees may make maximum contributions to a 403(b) plan and a 457 plan. For example, for tax year 2019, a participant could elect to contribute up to $19, 000 to a 403(b) plan AND up to $19, 000 to a 457 plan, for a total contribution of up to $38,000. However, contributions to a 403(b) plan are offset by any contributions to a 401(k) plan in the same tax year.  Employees contributing to both a 403(b) and a 401(k) plan are restricted by IRS regulations to a combined total of $19,000.

Each employee is responsible for their own calculations and to make sure the IRS limits are not exceeded.