PERA 457 [1]
All eligible employees can enroll in the PERA 457 plan. This is a defined contribution plan that employees can choose whether to contribute funds before or after tax.
- The pretax option lowers your taxable income now. You'll pay taxes on your distributions in retirement.
- The 457 offers a ROTH option. Consider the ROTH option if you want to contribute after tax, allowing for tax-free growth and tax-free distributions in retirement.
| Plan Features | 457 pretax and ROTH (after tax) | |
|---|---|---|
| Plan Administrator | PERA/Empower | |
| Who can participate? | All CU faculty and staff | |
| How much can you contribute? Please note: Contribution limits for the 457 Plan are not combined with the 403(b) and 401(k) limits. This is a separate limit. |
2025 Maximum: $23,500 |
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| Minimum: N/A | ||
| 2025 Catch-up contributions: Ages 50-59 and 64+: $7,500 Ages 60-63: $11,250 |
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| Additional catch-up provisions: For the three consecutive years before your normal retirement age, you may be able to contribute up to twice the available limit if you under-contributed prior years. | ||
| When are you vested? | Contributions to this account will be 100% vested immediately. | |
| When can you take money out? | Qualifying distributions
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| Loans: Members can borrow from their account balances and pay back the loan with interest. See the enrollment guide [4] for details. |
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| Investment choices | You will have access to the PERAdvantage line of investments, Target Date Funds based on your expected retirement date as well as a self-directed brokerage account. See PERA's voluntary plan website [7] and related investment lineup [8]. PERA/Empower offers online advice at no cost and professional management for a fee. For more information, go to coperaplus.org [9], open the Investing drop-down menu and select Investment assistance or call 833-4-COPERA (833-426-7372). |
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| What are the fees? | The administrative fee is a flat rate of $1.50 per month. If you also participate in the PERA 401(k) plan and/or PERA DC Plan, you will pay a set fee per month for each plan. Participants also pay a 0.03% total asset-based fee. | |
Groups audience:
Employee Services