UNC 457b Plan

The UNC System offers a voluntary 457b plan on either a pre-tax or after-tax basis.  The vendor for this plan is TIAA.

How to Enroll

Any employee of the University whose pay is subject to FICA taxes (Medicare/Social Security) may contribute to 457 plan.

Enrolling in the plan involves a two-step process:

  1. Complete a 457 Salary Deferral Agreement.  This form authorizes the University to deduct the 457 contribution from payroll and defer leave payouts.
  2. Setup your account online with TIAA and select your investments and beneficiaries.
    • TIAA: (select Ready to Enroll)

If a participant does not complete this second step, the contributions are put into a life-cycle fund with the selected vendor based on the age of the participant.

Contributions and Limits

For 2024, employees may contribute up to the following limits each calendar year via payroll deduction:

  • Up to age 49 – $23,000 per year
  • Age 50 or older – $30,500 per year

Contributions can be pre-tax, after-tax or any combination of the two.  The 403b Plans offer separate contributions limits for those that want to contribute in addition to a 457.

Resources

TIAA has representatives that are on NC State’s campus monthly.  Employees can set up times to meet with a TIAA representative using the information below.

TIAA