Supplemental Retirement Savings Plan Overview 2025
Explore the South Carolina Deferred Compensation Program, a voluntary supplemental retirement savings plan offering 401(k) and 457 plans with low fees. Learn about contribution options, catch-up amounts, and more for fiscal year 2025. Disclaimer: Details subject to change per PEBA's terms and conditions.
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Presentation Transcript
Introduction: supplemental retirement savings plan Retirement Benefits Training Fiscal year 2025
South Carolina Deferred Compensation Program A voluntary, supplemental defined contribution program to help employees save additional money for retirement. Offers 401(k) and 457 plans. Comparatively low fees. Local retirement plan advisors offering retirement awareness reviews, as well as assistance to participants nearing retirement and those already retired. Managed Account services available. Visit southcarolinadcp.com for more information. 2
Deferred Comp contributions 2024 annual contributions limit is $23,000. Elect to contribute before-tax or choose the Roth option to make after-tax contributions. $10 minimum contribution to each plan per pay period. Contribute flat dollar amount or percentage of pay.1 Additional catch-up amounts available for participants ages 50 and older. 1Confirm with employer if it offers percentage of pay option. 3
Disclaimer This presentation does not constitute a comprehensive or binding representation of the employee benefit programs PEBA administers. The terms and conditions of the employee benefit programs PEBA administers are set out in the applicable statutes and plan documents and are subject to change. Benefits administrators and others chosen by your employer to assist you with your participation in these employee benefit programs are not agents or employees of PEBA and are not authorized to bind PEBA or make representations on behalf of PEBA. Please contact PEBA for the most current information. The language used in this presentation does not create any contractual rights or entitlements for any person. 4
