Supplemental Retirement Plan
The Supplemental Retirement Plan helps you increase your retirement income by allowing you to invest your own contributions in a retirement account. You decide the amount you want to contribute within IRS limits. In 2009, participants may defer up to $16,500 in income or up to $22,000 for employees over age 50. The total dollar amount of your own contribution (your 5% matched contribution plus your supplemental plan) to the USC Retirement Savings Program (but not the university's contribution) counts toward your annual IRS limit. Vesting of your contributions is immediate.
Your contributions are invested by the same companies selected by the university to manage the investment of the USC Retirement Savings Program. Each company offers a wide variety of investment options:
Fidelity Investments
Prudential Retirement
TIAA-CREF
Vanguard
Who's eligible?
All faculty and staff, full time and part time, and students with FICA eligible earnings. You may participate in the Supplemental Retirement Plan as soon as you become a university employee.
Cost
You decide on the amount of your contribution within IRS limits.
What do I need to do?
You must enroll on eTrac, choose your investments and complete an enrollment and beneficiary form for the investment provider(s) you have chosen. You may do so at any time during the year.
When can I make changes?
You can make changes to the amount of your contribution (including stopping contributions) at any time. You can change your investment allocation at any time. You also can transfer monies between companies and between investment funds at any time subject to limitations on the frequency and amount of transfers set by the investment and insurance companies.
Questions?
More information about the Supplemental Retirement Plan and the wide range of investment options is available from your benefits office. Extensive information also is available from each of the participating companies online.
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