Plan Highlights

Employees for most SERS-participating employers also have access to the Deferred Compensation Plan, which is a voluntary supplemental investment plan with tax deferred benefits.

“Deferred comp” makes it easy to set aside more money for retirement by allowing you to have some of your pay automatically deducted on a pre-tax basis and invested.

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You select the amount you want to invest, from as little as $5 per pay to no more than $19,000 per year, which is the IRS limit for 2019. (“Catch-up” provisions allow some participants to contribute more in certain situations. See the Deferred Compensation Plan Features And Highlights for more information.)

You also decide which of the available funds to invest in -- with aggressive, moderate, and conservative options to choose from.

You can easily change the amount you withhold from your pay and your investments whenever you choose.

Deferred comp accounts have certain tax advantages as outlined in Section 457(b) of the IRS tax code. The SERS board has contracted with Empower Retirement as the third-party administrator of this investment plan.

Defer From Your Leave Payout

According to the IRS, leave payouts are eligible for deferral into deferred comp accounts. Current IRS limits affect the actual amount you can defer.

If you do not yet participate in deferred comp, there may be time to establish a new account; however, there are a number of HR, payroll, and retirement system deadlines involved that could take up to two months. (You need to have at least one payroll deferral into your new deferred comp account in order to roll over your leave payout.)

Your first step is to contact your HR office to learn if you are eligible for a leave payout and the amount. Then, contact a deferred comp representative at 1.800.633.5461 to discuss the rollover process.

Audited Financial Statements

SERS retains an independent auditor to examine the deferred comp program each year.

2017 2016 2015 2014
Changes in Plan Net Position

In addition to making program financial statements public each year, we report the inflows and outflows of the plan each quarter.

2018 - Quarter 3 2018 - Quarter 2 2018 - Quarter 1 2017 - Quarter 4
Participant Newsletter

Participants receive a quarterly newsletter with helpful tips on preparing for retirement and information about the plan.

Winter 2019 Fall 2018 Summer 2018 Spring 2018