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Supplemental Retirement Plans

The Medical Center offers a variety of providers that offer tax-favored plans that you may start at any time during your employment. 

If you choose to participate in either the 403B, 457 or traditional 401K, you can exclude a portion of your salary from taxable income by making plan contributions. You are taxed on this money only when you withdraw it at retirement or at times permitted by the plan rules. All three available plans offer a variety of investment choices to which contributions can be allocated, and investment earnings accumulate tax-deferred until withdrawn.

When you enroll in a Roth 401K, you make payroll deducted, post-tax contributions and if you comply with the plan rules, the money should not be taxed when you begin spending it at retirement.

MUHA offers the following supplemental retirement/deferred compensation plans

Plan
Name
Plan Overview
401k Fees and expenses may be lower than 403B
 Fewer investment choices than 403b
 Access to a pool of account representatives via an 800 number
457 Fees and expenses may be lower than 403B
 Fewer investment choices than 403b
 Access to a pool of account representatives via an 800 number
 Has a "Three Year Catch-up Provision."  Enables employees within three years of retirement under SCRS or PORS that have not always made the maximum allowable contribution to make twice the normal contribution amount.  Call 803-754-7997 for more information.
 Can make withdrawals either upon retirement or termination of employment prior to 59½ years of age without being assessed the 10% early withdrawal penalty
403b Fees and expenses may be higher than 401k/457
 More investment choices than 401k/457
 A company representative is assigned to support you

Contribution Limits - If under 50 Years of age
The  contribution limits for each plan are set at $18,000* for 2015.  However, the 457 Plan has its own, separate contribution limit of $18,000 meaning that you could defer up to $36,000 annually.

Contribution Limits - If 50 Years of age or older
In the year in which you turn 50 years of age, you are permitted to make an additional contribution of $5,500 to the 457 Plan and another $6,000 to one of or a combination of the 403B, 401K or Roth 401K.

How Do I Get Started with a 401k/457?
The 401k/457 plan offered by the Medical Center is administered by the South Carolina Deferred Compensation Plan.  To enroll in the plan, complete the 401K & 457 Enrollment Form and return it to the Human Resources Office at 163 Rutledge Avenue, Suite 200 or the Human Resources office in Ashley River Tower at 25 Courtney Drive, Suite 1205. This may be faxed to 843-792-0853.

How do I Get Started with a 403(b)?
Choose a provider from the list below
Establish an account with that company

The selected company should provide you with a salary reduction form to complete and bring to the Human Resources office at 163 Rutledge Avenue, Suite 200 or the Human Resources office in Ashley River Tower at 25 Courtney Drive, Suite 1205.  (Forms are also available in the Human Resources office.)

MUHA 403b Providers

Ameriprise Financial Services

843-971-0982 or
843-284-1237

Fidelity Investments

800-343-0860 Option#3

Metropolitan Life

843-478-0636

TIAA CREF

800-842-2638 Ext. 2144

VALIC

343-7400 or
345-9796

State Deferred Compensation (ING) 401K, Roth 401K & 457

877-457-6263

retirement plans imageLearn more about SC Deferred Compensation

South Carolina Deferred Compensation Plan Web site

877-457-6263