UGA is now offering a Roth 457(b), an additional way to save for retirement. Beginning with August payroll, participants will be allowed to direct their 457(b) contributions to either the traditional pre-tax account or the Roth post-tax account. The Roth account provides the option of having current contributions taxed now instead of having withdrawals taxed at retirement.
With the Roth 457(b) plan, distributions are tax-free, provided certain requirements are met. Unlike the Roth IRA, there are no income limits for participation. Contribution and catch-up limits are higher than those of a Roth IRA. If they qualify, employees may also contribute to a Roth IRA.
For more information, contact Jason Parker or Travis Jackson in Human Resources at (706) 542-2222 or email benefits@uga.edu.