The University offers three kinds of Tax-Deferred Plans: 403(b), 401(k) and 457 and a brief overview is outlined below. The information below is not intended to recommend that an employee participate in the Fidelity and/or Savings Plus Supplemental Retirement Plans (SRPs), nor will it give employees investment or tax advice.
403(b) Supplemental Retirement Plan (SRP) account with Fidelity Investments
The California State University 403(b) Plan is a voluntary retirement program that allows eligible CSU employees to save toward retirement by contributing to tax-deferred investments. The Group Plan Number is 50537.
- Eligible employees may have their contributions automatically deducted from their paycheck.
- You can contribute a portion of your compensation as pre-tax elective deferrals or after-tax Roth contributions.
- Pre-tax contributions result in reduced taxable income.
- Eligible employees can defer a minimum of $15 a month; maximum pre-tax/post-tax for under 50 years old is $22,500/year and over 50 years old is $30,000/year.
- All salary reduction changes such as stopping, starting, increasing or decreasing are managed by the employee directly.
- Plan participants pay a fixed dollar administration fee of $10.00 each calendar quarter or $40.00 per year.
- There is no employer matching contribution.
- For more information on the plan, to schedule a one on one consultation or to enroll, please visit the Fidelity Website. Make sure to also review the Enrollment Instructions for details on how to enroll online.
- If you would like to speak to a representative to enroll or make changes, please call 877-278-3699 (M – F, 8 am to 12 am, ET).
- If you would like to speak to with a licensed planner regarding your current plan, please call 877-278-3699 (M – F, 8 am to 9pm, ET).
401 (k) and 457 (b) Supplemental Retirement Plans (SRPs) with Savings Plus
Savings Plus is a voluntary retirement program that allows eligible CSU employees to save toward retirement by contributing to tax-deferred investments. Part-Time, Seasonal, and Temporary (PST) employees are eligible to contribute to the Savings Plus plans. Savings Plus offers a 401(k) Plan and a 457(b) Plan.
- Eligible employees may have their contributions automatically deducted from their paycheck.
- Eligible employees can contribute a specific flat dollar amount or a percentage of their gross pay.
- Contributions can begin as low as $50/month, and up to the maximum of $22,500 per IRS Plan. Additional contributions may be permissible under specific catch-up conditions.
- All salary reduction changes such as stopping, starting, increasing or decreasing are managed by the employee directly.
- Plan participants pay a fixed dollar administration fee of $6.00 each calendar quarter or $24.00 per year.
- There is no employer matching contribution.
- For more information on the plans or to enroll, please visit the SavingsPlus Website.
- If you would like to speak to a representative to enroll or make changes, please call 1-855-616-4776 (M – F, 5 am to 8 pm, PT).
ScholarShare College Savings Plan
- Eligible employees may participate in California's tax-advantaged 529 college savings plan.
- The plan is sponsored by the ScholarShare Investment Board, an agency of the State of California, and is managed by TIAA-CREF.
- Earnings in your ScholarShare plan account grow tax-deferred.
- A minimum of $25 allows you to open a ScholarShare Account and you can contribute as little as $15 per pay period through payroll deduction.
- When you withdraw money to pay for qualified education expenses, you pay no federal or California state income tax.
- There is no employer matching contribution.
- For more information or to enroll online visit www.scholarshare.com.
- If you would like to speak to a representative to enroll or make changes, please call 1-800-544-5248 (M – F, 8 am to 7 pm, PT).
U.S. Savings Bonds
The U.S. Department of the Treasury has ended the sale of paper U.S. Savings Bonds through employer-sponsored payroll deduction plans.
- CSU employees may purchase U.S. Savings Bonds directly through the Treasury Direct website.
Credit Unions
Membership in a credit union enables you to save conveniently, borrow at low interest rates and repay loans through payroll deductions.
- You will need to show your Coyote One Card or a current paystub to open an account.
- For information on additional perks of credit union membership, please refer to the following credit union sites: