Texa$aver 401(k) and 457

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What is Texa$aver?

Texa$aver is a voluntary retirement savings program offered through ERS. Texa$aver can help you save for your future today.

Many financial experts agree that you will need at least 70% of your income to maintain your current way of life in retirement. And while you may receive money in the form of a pension and Social Security benefits when you retire, that may not be enough. That’s where the Texa$aver 401(k)/457 Program comes into play.

The recordkeeper for Texa$aver is Great-West Retirement Services^® (Great-West).

Sign up to receive Texa$aver 401(k)/457 Program email updates
Auto-enroll
New employees are automatically enrolled at 1%. Contributions are taken out before tax.

Account Basics

Benefits of Texa$aver
Participating in the Texa$aver Program has it's advantages.
Watch Your Money Grow
Example of how investing compounds over the years.
Enroll or Change Contributions
Make changes anytime of the year.
Fees
Administrative fees, account management fees, and other one-time charges.
Designate Beneficiaries
Select who will receive your Texa$aver account balance if you should die.
Compare the Plans
Compares the Texa$aver 401(k), 457 plans, and Roth plans.

Beyond the Basics

Consolidate Accounts
Rollovers from other account into the Texa$aver account saves on fees.
Advisor Service
Provides advice about investing your Texa$aver account money.
Deferring Annual Leave
Increase your retirement saving by depositing your annual leave payment into Texa$aver.
Investment Options
Choose the right investments to match your goals.
Catch-Up Provisions
Special circumstances that increase your maximum contributions per year.
Roth contribution options
Texa$aver offers a Roth contribution option in both the 401(k) and 457 Plans.

Loans & Distributions

Withdrawal Options
Distribution flexibility with a variety of payout options.
Loans
Borrowing from your account now impacts your retirement savings long-term.
Required Minimum Distribution
Requires that you begin taking distributions once you reach age 70½.
Purchasing Service Credit
Rollover money from your account to purchase service credit.

Resources

Road to retirement video
Texa$aver 401(k) Forms
Texa$aver 457 Forms
Texa$aver Events Calendar
Texa$aver Resource Center
Texa$aver Roth Contributions