Supplemental Retirement Plans Overview

All Ohio State employees are eligible to participate in the 403(b) and 457(b) Supplemental Retirement Accounts (SRA). These plans allow you to enhance your retirement savings through two available contribution types (pretax and Roth) to a 403(b) plan and/or 457(b) plan account. You may enroll at any time (see SRA calendar for submission deadlines). Visit Fidelity’s NetBenefits website to enroll or update your 403(b) and/or 457(b) elections. Ohio Deferred Compensation 457(b) enrollments and payroll contribution changes must be made directly with ODC at ohio457.org.

Manage Plan Elections

The NetBenefits portal allows employees to enroll/manage and change provider(s) for their Supplemental Retirement Plans (403(b)/457(b)). Ohio Deferred Compensation (ODC) elections/changes can be made at ohio457.org or by calling (877) 644-6457.

Trouble with the NetBenefits site? Contact the Fidelity Service Center at (800) 343-0860 or HR Connection at (614) 247-myHR (6947).

Contributions

You set the flat dollar amount to contribute to the plan(s) with each pay.

2025 Contribution Limits
Age Group 403(b) 457(b)
Under age 50 $23,500 $23,500
50 to 59 $31,000 ($23,500, plus $7,500 catch-up) $31,000 ($23,500, plus $7,500 catch-up)
60 to 63 $34,750 ($23,500 plus $11,250 catch-up) $34,750 ($23,500 plus $11,250 catch-up)
64 and older $31,000 ($23,500 plus $7,500 catch-up) $31,000 ($23,500 plus $7,500 catch-up)

How it works

Your contributions are voluntary and vest immediately. The university does not contribute to these plans, unlike the mandatory retirement plans. You have options for how and when to receive your account balance, as well as for requesting a refund or rollover of your accumulated contributions in accordance with IRS rules and plan provisions.

Types of Contributions

There are two types of contributions: before tax (pretax) and after tax (Roth). Each contribution type has different advantages based on when you would like to be taxed. Pretax contributions reduce your current year taxable income and are taxed at the time of distribution. Roth contributions are taxed when contributed and not at the time of a qualified distribution.

Pretax vs Roth comparison
Plan Detail Pretax Contributions Roth Contributions
Your Contributions Your contribution goes into your account before taxes, and your current taxable income is reduced. Your contribution goes into your account after taxes, and your current taxable income is not reduced.
When You Take a Distribution You will pay income taxes on your contributions and investment earnings when you take a distribution. An additional 10% IRS tax penalty may apply (403(b) only) on any distributions taken before age 59½. You will not pay taxes on your contributions when you take a distribution because your contributions were made on an after-tax basis.

You will not pay taxes on investment earnings if you make a qualified distribution.*
*To meet these requirements when you take your distribution, you must be at least 59½ years old with a Roth account open for at least five years. If your distribution is not considered qualified, you will be taxed on your investment earnings, plus you will owe an additional 10% IRS penalty

Additional Plan Features

403(b) and 457(b) Plan Features
Plan Detail 403(b) Plan 457(b) Plan
Required Minimum Distribution Not required while actively employed. Required by April 1 of the year following the 73rd birthday, and by December 31 thereafter regardless of employment status.
In-plan Roth Conversions Available. See the In-plan Roth Conversions section below. Available. See the In-plan Roth Conversions section below.
Contribution Coordination There is no coordination between 403(b) and 457(b) plans. Employees can contribute the maximum to both. There is no coordination between 403(b) and 457(b) plans. Employees can contribute the maximum to both.
Early Withdrawal Penalty Yes None
Access to Funds / Distributions See Distributions, Transfers and Rollovers for more information. See Distributions, Transfers and Rollovers for more information.

SRA Election Calendars

New enrollment or updates to existing 403(b) and 457(b) plans can be made at any time by using Fidelity’s NetBenefits website. Ohio Deferred Compensation 457(b) enrollments and payroll contribution changes must be made directly with ODC at ohio457.org. See the calendars below for enrollment/update windows and their corresponding effective pay dates. ODC’s submission deadlines may differ from the below calendars.

Plan Documents and Resources

In-plan Roth Conversions

Also available to 403(b) and 457(b) participants is an in-plan Roth conversion option. The in-plan Roth conversion feature is not available at Ohio Deferred Compensation (ODC).

An in-plan Roth conversion involves transferring all or a portion of your university-sponsored pretax 403(b) and/or 457(b) retirement plan balances and moving them into a Roth account within the same plan. The assets you convert will remain invested according to your investment elections on file with the 403(b) or 457(b) plan provider completing the conversion.

Note: You will be responsible for paying any taxes in the year in which you convert pretax assets to Roth. Depending on your situation, this could be a significant amount. Therefore, you should consider consulting with a tax advisor or qualified financial professional before making an in-plan Roth conversion.

Frequently Asked Questions

Key Plan Information

Explore important aspects of the plans, your provider and investment choices, fees and when you have access to your account(s).

Plan Fees

Understand the fees that you are paying.

Investments

Learn about your investment options and how to manage them.

Distributions

Understand when you can request a withdrawal, how to apply for one and at what age you are required to take one.

Providers

There are four approved providers within this plan.

Legacy Accounts

Consider your account options and understand the fees you may be paying for balances held in accounts prior to January 1, 2021.