Supplemental Retirement Options
Only benefited employees are eligible to participate in the 401(k), 403(b), 457(b), ROTH 401(k) and 403(b) Plans. The maximum contribution for employees under the 401(k), 403(b) and 457(b) plans is designated annually by the IRS. These plans, which provide supplemental retirement benefits, are salary reduction plans made through payroll deduction. The amounts deducted from your paycheck are then credited to an investment annuity of your choice. 401(k), 403(b) and 457(b) are exempt from federal and state tax until retirement or earlier withdrawals. Roth accounts are post tax but grow tax free. Employees may make these voluntary, tax-deferred or post tax contributions to a supplemental retirement program as defined by the Internal Revenue Code. EKU does not provide any matching funds.