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Supplemental Retirement Plans

For additional retirement savings, University of North Georgia employees may elect to contribute to a 403(b) (Tax Sheltered Annuity) or 457(b) (Deferred Compensation Plan) plan or both. Participation in either of these supplemental plans is strictly voluntary.

You can choose to invest your 403(b) or 457(b) funds in a traditional, tax deferred account, or you may choose a Roth option where your contributions are taxable, but all future returns are tax free. You can invest 403(b) or 457(b) contributions in a variety of investments. Contributions can be tax-deferred, meaning your investments can grow before being taxed as income when distributed.

The University System of Georgia does not offer a match to either plan.

You may choose any of the three investment providers, AIG Retirement Services, Fidelity or TIAA, when you enroll for either plan. You may use a single provider or allocate your contributions across multiple providers.

Comparison of 403(b) vs. 457(b)

For a summary of the benefits and features of each plan, visit the University System of Georgia Benefits site.

Definition of Terms:

Lump Sums: Lump sum distributions are subject to ordinary income tax. They are also subject to an early withdrawal penalty if taken before age 59½. Employees/Retirees who are using this method to meet the minimum distribution requirement should ensure that the amount taken out each year satisfies this requirement.

Lifetime Annuities: Guarantees income for life to either one or two people. In most cases any annuity paid out over the owner's or owners' actuarially calculated lifetime(s) will satisfy the minimum distribution requirement.


  • Required Minimum Distribution Option - After Age 70.5
  • Minimum Distribution Option - Automatically pays out the smallest amount that will satisfy the employee's annual minimum distribution requirement.

Systematic Cash Withdrawals: A series of cash withdrawals taken during the calendar year (semi-monthly, monthly, quarterly, semi-annually, or annually). Employees/Retirees who are using this method to meet the minimum distribution requirement should ensure that the amount taken out each year satisfies this requirement.

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