Fayetteville Technical Community College

Other Retirement Information

State 401(k) Plan administered by Prudential.

All non-temporary employees are allowed to participate in a state-sponsored Supplemental Retirement Plan.  This plan allows the employee to contribute to an investment program that will defer income taxes on both the employee's investment and the income on the investment until a later time.  
You decide how much you want to contribute through payroll deduction up to the maximum allowable limits. Remember, the money you contribute is deducted from your paycheck before taxes so you're lowering your taxes every payday!

 

Minimum: $20 per month
Maximum: 80% of pay
  Contribution Limits Catch-up Contributions over 50
2006 $15,000 $5,000
2007 $15,500 $5,000

For detailed information on the plan and investment performance please visit the State 401(k) Website.

 

 

403(b) OPTIONS - We offer several options for participants of 403(b) plans.  Some companies represented by FTCC are: Allianz, Jefferson Pilot, Kemper, TIAA-CREF, Equitable Life, Horace Mann, Hartford, Franklin Templeton, USAA, Valic, Lincoln National, Metropolitan Life, New York Life, Security Benefit Life.

Coordination is required between 401(k) and 403(b) plans.  The maximum combined deferral amount in 2007 for an eligible participant who is contributing to both a 401(k) and a 403(b) plan is $15,500.  

 

State 457(b) Plan administered by Great-West

All non-temporary employees are allowed to participate in a state-sponsored 457 (b) Supplemental Retirement Plan.  This plan allows the employee to contribute to an investment program that will defer income taxes on both the employee's investment and the income on the investment until a later time.  
You decide how much you want to contribute through payroll deduction up to the maximum allowable limits. Remember, the money you contribute is deducted from your paycheck before taxes so you're lowering your taxes every payday!
Coordination is not required between 457)b) and 401(k) or 403(b) plans.  The maximum combined deferral amount in 2007 for an eligible participant who is contributing to both a 457(b) and 401(k) or a 403(b) plan is $31,000.  

 

Email the Benefits Representative