Annual Eligibility Notice for Retirement Plans

It is an uncertain time right now, but historically every market downturn has been followed by a recovery. Be patient, save consistently, and focus today on controlling what you can as you plan for the retirement you envision for yourself and your family.

Whenever you’re ready to start saving for your future, The University of Texas Retirement Program offers two powerful tools to get you where you want to be. The UTSaver 403(b) and the UTSaver 457(b) offer more options than ever to help you secure your financial future.

What’s New?

DCP Roth

UTSaver 457(b) Deferred Compensation Plan (DCP) now offers a Roth option in addition to the traditional option. Just like your UTSaver 403(b) Tax Sheltered Annuity (TSA) plan, you can now make contribution deferrals before or after you pay taxes.

Vacation Leave Deferral

If you are entitled to a cash payment resulting from unused annual leave at the time you depart employment, you can now defer that leave payment to both your UTSaver TSA and DCP to lower your immediate taxable portion of the payment.

Qualified Birth and Adoption Distribution

If you or your spouse had or adopted a child within the last 12 months, you may be eligible for a one-time $5,000 distribution from your UTSaver TSA or DCP account. You can even pay it back later if you desire.

Age 59 ½ Distributions

Even if you are still working, you can now take a distribution from both your UTSaver DCP and TSA plans upon turning age 59 ½ if needed.

Required Minimum Distribution increased to Age 72 for All Plans

If you are retired, required minimum distributions (RMDs) will not be due on any qualified UTSaver plan until the latter of the April after you leave employment with the university or the April after you attain age 72.

The UTSaver TSA and DCP plans are open to enrollment all year long. You can start, change, or stop your contribution any time you need. When you are ready to take advantage of the UT Retirement Programs, all it takes is the click of your mouse to Get Started!