UT Retirement Manager

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UT Retirement Manager

• With the implementation of
• UT Retirement Manager,
• The University of Texas System also
  introduces . . .

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A new program called . . . . .

• University of Texas Saver
• Deferred Compensation Program

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UTSaver Deferred Compensation Program

• This program provides you with a pretax
• investment vehicle to supplement your
• retirement savings.
• Participation in this program is in addition
• to the existing ORP or TRS and 403b
• plans we currently offer.

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UTSaver Deferred Compensation Program

• Who is eligible to participate in this
• program?
• All employees of the University of Texas
• are eligible to participate.

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UTSaver Deferred Compensation Program

• How much can I contribute each year in
• this program?
• The contribution limits are set by the
• Internal Revenue Codes. However, you
• can save as little as 20 per pay period
• up to 100 of the contribution limit.

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UTSaver Deferred Compensation Program

• There are three maximum contribution
• Limits. For calendar year 2005, they are
• Regular 14,000.00
• Age 50 and above 18,000.00
• Special Catch-Up 28,000.00
• 14,000 plus an additional 4,000
• 14,000 plus up to an additional 100 if
  contributions are within 3 years of retirement
  and no other funds have been deferred under the
  plan.

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UTSaver Deferred Compensation Program

• There are three maximum contribution
• Limits. For calendar year 2006, they are
• Regular 15,000.00
• Age 50 and above 20,000.00
• Special Catch-Up 30,000.00
• 15,000 plus an additional 5,000
• 15,000 plus up to an additional 100 if
  contributions are made within 3 years of
  retirement and no other funds have been deferred
  under the plan.

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UTSaver Deferred Compensation Program

• Remember, your ORP, TRS or TSA
• contributions do not affect the total
• amount you are able to defer under
• the UTSaver DCP.

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UTSaver Deferred Compensation Program

• How do I enroll in this program?
• Enrollment is simple. Log on to
• UTRetirement Manager at
• www.utretirement.utsystem.edu
• and select DCP Enroll/Make Changes

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UTSaver Deferred Compensation Program

• When enrolling, you may choose one or more
• vendors from the list of authorized UTSaver DCP
• vendors.
• Enrollment also includes the completion of the
• application with the vendor.

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UTSaver Deferred Compensation Program

• You are not considered enrolled and no
• contributions can be made until you have
• completed the vendor application.

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UTSaver Deferred Compensation Program

• Who are approved vendors?
• There are 8 approved vendors, they are

TIAA Cref Fidelity Metlife Great
West ING VALIC Lincoln National Citistre
et
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UTSaver Deferred Compensation Program

• When are my funds vested?
• Your funds are always vested 100.

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UTSaver Deferred Compensation Program

• Other plan features
• You may transfer between investment
• options and vendors at any time.
• To change vendors, log on to UTRetirement
• Manager. To change investment options,
• contact your vendor directly.

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UTSaver Deferred Compensation Program

• Subject to approval by UT System, loans
• are permitted for any amount between
• 1,000 and the maximum loan allowed by
• law or one half of your account balance.
• Applications for loans must be submitted
• to UT System Office for approval.

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UTSaver Deferred Compensation Program

• In limited situations, withdrawals may be
• available for unforeseeable emergencies.
• You may request part or all of the value
• of your account. Again, approval must be
• obtained through UTSystem.

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UTSaver Deferred Compensation Program

• Assets are eligible for distribution when you
• leave employment or at the time of your
• retirement.
• Distribution must begin on or before April 1 of
• the of the calendar year you reach age 70½
• or the calendar year in which you retiree
• whichever is later.

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UTSaver Deferred Compensation Program

• The 10 early withdrawal penalty does
• not apply to withdrawals from UTSaver
• DCP.
• You can separate from service at any age
• and withdraw your funds without penalty.
• However, income taxes will be due upon
• withdrawal.

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UTSaver Deferred Compensation Program
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UTSaver Deferred Compensation Program

• Save in more ways than one. . . . .
• 1. Save for retirement.
• 2. Save on your current taxes.
• 3. Save for your financial future.

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UTSaver Deferred Compensation Program

• The sooner you begin to save, the more time
• your money has the potential to grow.
• Start now, go to
• www.utretirement.utsystem.edu
• or contact our Benefits Office at [phone]
• for more information.