The Voluntary Retirement Plan offers benefits-eligible employees the opportunity to invest through payroll deduction with a retirement provider approved by the Kansas Board of Regents (KBOR). Annual limits are established by the IRS and include a base limit, an additional amount for employees who are age 50 or above and, an amount available to employees with at least 15 years of service at K-State who qualify for a higher annual limit.
Contributions may be pre-tax, after tax, or a combination of pre-tax and after tax to the maximum allowed by the IRS.
When Eligible: Benefits-eligible employees may begin contributing to a KBOR voluntary 403(b) plan on the first day of employment.
Who Pays: The employee contributes through payroll deduction up to the applicable maximum according to IRS regulations.
Policy and Procedures Manual Chapter:
4810 Retirement Plans, Policies and Procedures