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457(b) plan

Plan details 

Welcome to your 457(b) retirement plan. Click below to view the features and highlights of your employer’s retirement plan. 

The plan highlights are only a brief overview of the plan's features and are not a legally binding document. The information in this section does not modify the terms of the plan and in the event of a conflict, the terms of the plan control.

Take advantage today

All employees are immediately eligible to participate in the 457(b) plan. There are no age or service requirements. 

Starting early has its advantages

Your contributions

The maximum amount you are allowed to contribute to your 457(b) plan is based on your taxable compensation as defined by the Internal Revenue Code. Generally, you can contribute up to 100% of your salary on a pretax basis, up to the maximum IRS contribution limit. Special catch-up provisions may also be available. Talk to your financial professional for more information. 

Contribution limit

If you have an existing qualified retirement plan (pre-tax), 403(b) tax deferred arrangement or deferred compensation plan account with a prior employer or hold a traditional IRA account, you can transfer or roll over that account into the plan upon becoming a participant in the plan. 

Can I stop or change my contributions?

You may stop your contributions by giving notice to your employer prior to the beginning of the month for which the cessation of contributions is to be effective. Once you discontinue contributions, you may only start again as provided under the terms of the plan. 

You can increase or decrease the amount of your contributions by giving notice to your employer prior to the beginning of the month for which the change is to be effective. 


Vesting refers to your “ownership” of a benefit from the plan. You are always 100% vested in employee contributions and rollover contributions, plus any earnings they generate.

Accessing your money before retirement


Money can be withdrawn from the Plan in these events:

  • Death

  • Disability

  • Severance from employment

  • Retirement

  • Unforeseeable emergency which is defined as a severe financial hardship resulting from a sudden and unexpected illness or accident (involving the participant or dependent), a loss of property due to casualty, or other similar extraordinary and unforeseeable circumstances due to events beyond your control.

  • Attainment of age 70½. (If you reach age 70½ and have not separated from service, you can elect to defer receipt no later than April 1 of the year following separation from service.)

  • A one-time withdrawal is allowed if your account balance is $5,000 or less and there have been no deferrals for the past two years and no prior withdrawals of this type have been taken.

Income taxes are payable upon withdrawal and federal restrictions apply to early withdrawals. Be sure to talk with your tax advisor before withdrawing any money from your Plan account.


The Plan is intended to help you put aside money for your retirement. However, University System of Georgia has included a Plan feature that enables you to access money from the Plan. 

  • The amount the Plan can loan to you is limited by rules under the tax law. All loans will be limited to the lesser of: 100% of your vested account balance up to $10,000, or 50% of your vested account balance for loans in excess of $10,000, not to exceed $50,000.

  • The minimum loan amount is $1,000.

  • All loans must generally be repaid within five years. A longer term may be available if the loan is to be used to purchase your principal residence.

  • You can have two loans outstanding at a time: one general purpose loan and one mortgage loan.

  • You pay interest back to your account. The interest rate on your loan will be the Prime Rate plus 1%

  • A $50 processing fee for all new loans and a $25.00 per year loan maintenance fee are charged to your account.

Unpaid loan amounts will be taxed as ordinary income.

Other requirements and limits must be met prior to borrowing money from your account. For additional information regarding loans, please see your financial professional. 

An array of investment choices

The mutual funds available in your retirement plan will help provide you with the flexibility you need to create a suitably diversified portfolio that matches your personal retirement time horizon, investment risk tolerance and investment preferences. 

View the entire list of funds and their historical performance available to the University System of Georgia 457(b) plan participants

To view or print a prospectus, access “Prospectuses and Other Important Materials”. The prospectus contains the investment objectives, risks, charges, expenses and other information about the respective investment companies that you should consider carefully before investing. Please read the prospectus carefully before investing or sending money. You can also request a copy by calling 1-800-428-2542.