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Supplemental Retirement Plan Comparison Chart
| Supplemental Retirement Plan | 401(k) | Roth 401(k) | 403 (b) | Roth 403(b) | 457(b) | Roth 457(b) | Roth IRA |
|---|---|---|---|---|---|---|---|
| Deferred Income Companies |
Corebridge Financial and TIAA |
Independent Plan- not associated with employment |
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| Ownership and Vesting |
Account in Employee's name - 100% immediately vested |
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| Payroll Deduction through Clemson |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
| Employer Contribution |
No |
No |
No |
No |
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| Fees |
Variable - Please check with the plan vendor |
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| Enroll/Changes/ Cancellations |
Visit the SC Deferred Compensation enrollment page for instructions on how to enroll. Contributions should be designated through the employee's SC Deferred Compensation profile. |
Visit the Clemson University Retirement Manager page to enroll, select your investment provider and make your contribution elections. |
Visit the SC Deferred Compensation enrollment page for instructions on how to enroll. Contributions should be designated through the employee's SC Deferred Compensation profile. |
Independent Plan |
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| Maximum Annual Contributions |
For 2024: $23,000; 401(k) & 403(b) coordinated limit For 2025: $23,500; 401(k) & 403(b) coordinated limit |
For 2024: $23,000 For 2025: $23,500 |
For 2024: $7,000, income limits apply For 2025: $7,000, income limits apply |
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| Catch-Up Provision for 50 or older |
For 2024: Age 50 or older, $7,500; 401(k) & 403(b) coordinated limit For 2025: Age 50-59 or 64 and older, $7,500; 401(k) & 403(b) coordinated limit |
For 2024: Age 50 or older, $7,500 For 2025: Age 50-59 or 64 and older, $7,500 |
For 2024: $1,000, income limits apply For 2025: $1,000, income limits apply |
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| Super Catch-Up Provision |
For 2024: $0; 401(k) & 403(b) coordinated limit For 2025: $11,250, for those turning 60-63 in 2025; 401(k) & 403(b) coordinated limit Please note: Individuals aged 60-63 may choose to do the super catch-up OR the regular catch-up, but not both. |
For 2024: $0 For 2025: $11,250, for those turning 60-63 in 2025 Please note: Individuals aged 60-63 may choose to do the super catch-up OR the regular catch-up, but not both. |
N/A |
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| Special Catch-Up Provision |
No |
No |
Yes - Within 3 years of retirement |
No |
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| Taxability |
Pre-Tax Contributions. Investment growth is not subject to federal and state income taxes until funds are withdrawn. |
After-tax contributions. Tax- free withdrawals after account has been in place for 5 years and owner is at least age 59.5. |
Pre-Tax Contributions. Investment growth is not subject to federal and state income taxes until funds are withdrawn. |
After-tax contributions. Tax- free withdrawals after account has been in place for 5 years and owner is at least age 59.5. |
Pre-Tax Contributions. Investment growth is not subject to federal and state income taxes until funds are withdrawn. |
After-tax contributions. Tax- free withdrawals after account has been in place for 5 years and owner is at least age 59.5 who has separated from state service. |
After-tax contributions. Tax- free withdrawals after account has been in place for 5 years and owner is at least age 59.5. |
| Loan Provisions |
Available - Contact SC DCP (restrictions apply) |
Available - Contact Vendor (restrictions apply) |
Available - Contact SC DCP (restrictions apply) |
None |
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| Direct Transfers |
Pre-tax to |
Roth to Roth |
Pre-tax to |
Roth to Roth |
457 to 457 |
Allowed |
|
| Rollovers |
Contact Vendor; restrictions apply |
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This page is for informational purposes only and is provided with the understanding that Clemson University is not rendering legal/tax/investment advice. If such advice is desired, employees should consult their independent legal counsel, tax consultant, and/or financial planner. The University neither endorses nor recommends one investment vehicle over another.
