457 Deferred Compensation Plan

Will your retirement be enough? Check out this latest video as it presents information on the benefits of participating
in the Louisiana Public Employees’ Deferred Compensation Plan to supplement your regular
retirement. VIEW VIDEO

The Deferred Compensation Plan is a Section 457 Retirement Program, commonly referred
to a supplemental retirement annuity. This plan provides employees with the opportunity
to invest money on a before tax basis, using payroll deduction. Because your taxable
income is reduced, you can invest money and defer taxes. The before tax aspect is
what makes Deferred Compensation Plans very attractive. Participants defer federal
and state income tax on their contributions. In addition, interest or earnings on
your account accumulates tax-deferred. No taxes are paid on the account until you
begin withdrawing funds. You may join the plan with as little at $10 per pay period.
You can contribute the lesser of $19,500 or 100% of compensation per calendar year.
Empower is the plan administrator for Louisiana Public Employees Deferred Compensation

For more information about Louisiana Public Employees Deferred Compensation Plan,
please contact Zach Klos at 504-439-9863.

EGTRRA (Economic Growth and Tax Relief Reconciliation Act) of 2002 allows for the
following contribution limits on tax-deferred annuities for 2023: $22,500.00 per year,
plus an additional $7500.00 for participants if they will be over age 50 by the end
of the calendar year of those older than 50. An additional catch-up provision may
also be available for employees with 15 years of service at the university.

Call (985)549-2057 for more information.