Welcome to your DCP 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 in the UT System are eligible to participate in the UTSaver DCP.
Starting early has its advantages
You may increase or decrease the amount you contribute to the plan as often as your employer allows.
Additional catch-up contributions
You might be eligible to contribute up to an additional:
You may change your contributions amount or discontinue contributing to your plan at any time and resume contributing again later, subject to your employer’s plan provisions. In the meantime, your account will continue to grow on a tax-deferred basis. Under a 457(b) plan, an election start, change or stop contributions will become effective no sooner than the first pay period of the month following the date the election is made. Please allow one month’s notice for processing.
Vesting is a participant’s right of ownership to the money in his or her plan account. You are always 100% vested in your own contributions.
Accessing your money before retirement
Money can be withdrawn from your 457(b) plan in these events:
- Attaining age 59½ (employee contributions must be 100% vested)
- Retirement or separation from service.
- Your death or total disability
- Unforeseeable emergencies (subject to Plan Administrator approval)
In addition, you must begin taking distributions once you reach age 70½ or you retire, whichever is later.
Bear in mind that income taxes are payable upon withdrawal.
VALIC offers many distribution options, allowing you to tailor your benefits to meet your individual needs. Depending on your employer’s plan provisions, your withdrawal options include:
- Transferring or rolling over your vested account balance to another tax-advantaged plan that accepts rollovers
- Receiving systematic withdrawals
- Taking a lump-sum distribution
- Choosing one of the many annuity options available from VALIC
- Deferring distributions until a later date (but no later than attainment of age 70½) if you are no longer working for the employer sponsoring the plan, allowing your account to continue to grow tax deferred.
Generally, income taxes must be paid on all amounts you withdraw from your plan.
Loans are available for "active" employees. Tax-free loans make it possible for you to access your account, subject to certain limitations, without permanently reducing your account balance. Defaulted loan amounts (not repaid on time) will be taxed as ordinary income and may be subject to a 10% federal tax penalty if you are under age 59½.
An array of investment choices
The following funds are available in your retirement plan. They 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.
Mutual fund performance:
- View the entire list of funds and performance available in your UT Deferred Compensation Plan. (Please note: It may take a few minutes to load the performance.)
For mutual fund: 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.
For annuity: To obtain a Portfolio Director prospectus and underlying fund prospectuses, visit www.valic.comor call 1-800-428-2542 and follow the prompts. The prospectuses contain the investment objectives, risks, charges, expenses and other information about the respective investment company that you should consider carefully before investing. Please read the prospectuses carefully before investing or sending money. Policy Form Series UIT-194, UITG-194 and UITG-194P.