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K-State Today

December 1, 2014

Deferred compensation plan changes for K-State employees

Submitted by Amanda McDiffett

Starting in January 2015, Great-West Financial will begin providing plan administration, record keeping, education and communication for the KPERS 457 Retirement Plan, the supplemental retirement savings plan for all K-State employees — benefit eligible and nonbenefit eligible. Great West is replacing ING/Voya at the end of the year, Dec. 31.

There will be three meetings Dec. 3 in Manhattan for all current and future employees: 7:30-8:30 a.m. at the Public Works Admin Building, Training Room, 6215 Tuttle Creek Blvd.; 10-11 a.m. at the Courthouse Plaza E, Commission Room, 115 N. 4th St.; and 1:30-2:30 p.m. at the Commission Room, 116 N. 4th St. Please plan on attending to learn more about Great-West Financial and changes to your 457 Retirement Plan.

All K-State employees are eligible to enroll in the deferred compensation 457 plan offered by KPERS. Deferred compensation allows employees to set aside pre-tax money to an annual contribution limited established by the IRS. Employees do not need to be benefit eligible to participate in this employee plan. Please note, this plan is solely funded by the employee, the university does not make contributions to this plan. Read more about the many saving plans Kansas State University offers.

Read additional information about Great-West Financial. If you are unable to attend one of these meetings, there will be a video tape recording.

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