UTSaver DCP 457(b)

Eligibility

All employees of the UT System are eligible to participate in the UTSaver DCP.

Enrollment

Review and select a provider(s) from the list of authorized providers. You may select more than one provider for your UTSaver DCP participation.Log onto UTRetirement Manager and click on the DCP Enroll/Change page. Complete an account application(s) with the provider(s) you have selected. If you are utilizing the special catch-up provision, contact your Benefits Office and request a calculation of your contribution limit. Complete the Special Catch-Up Provision Agreement (if utilizing this option) and return it to your Benefits Office.

Contributions

You can contribute as little as $15 per month or as much as 100% of your eligible compensation up to $23,500 (was $23,000 for 2024) in the UTSaver DCP. There are also two catch up provisions:

Age 50 Catch up: If you are age 50 or older, you may contribute an additional $7,500.

Special Catch-up: If you are within three years of the taxable year in which you attain normal retirement age, you may be able to contribute up to an additional $23,500 per year. Eligibility for this special catch-up provision is dependent upon your unused elective deferrals for the prior years you were eligible to participate in a 457(b) plan and must be calculated by your Benefits Office. The Age 50 Catch-up and the Special Catch-up may not be used simultaneously.

Neither your UTSaver Tax-Sheltered Annuity nor your Optional Retirement Program contributions affect the total amount you are able to defer under the UTSaver DCP.