Additional 457(b) Retirement Savings Plan Options
The UofL 457(b) Deferred Compensation Plan
The university offers a 457(b) Retirement Plan as an additional tax-deferred retirement plan option for eligible employees. To enroll in this plan and make tax-deferred contributions, follow the 457(b) enrollment instructions below. If you have questions about this plan, please email benefits@louisville.edu or call (502) 852-6258.
457(b) Enrollment Instructions (PDF)
State of Kentucky 457(b) Deferred Compensation Plan
In addition to the University of Louisville 457(b) Plan, employees have the option of participating in the Kentucky Public Deferred Compensation Plan. Employees can participate in one of these deferred compensation plans, but not both. If you have questions about how to enroll or make changes to your account for the Kentucky Public Deferred Compensation Plan, please call the Local Kentucky Plan Representative at 1-800-542-2667.
Visit the Kentucky Deferred Compensation website.
Maximum Employee Contribution Limits
The IRS limits the amount participants may contribute annually. Salary deferral contributions can be made only from income paid through the university’s payroll system. Contributions are reported annually on employees’ W-2 forms, but are not included income subject to taxation.
| Year | Maximum Amount |
|---|---|
| 2023 | $22,500 |
| 2024 | $23,000 |
Age 50 Catch-Up Contributions
You may be able to make additional annual "Age 50+ Catch-up" contributions beginning in the calendar year you turn age 50 if you're already contributing the maximum to your 457(b) based on plan or IRS limits. The Age 50+ Catch-up contribution limit is $7,500.
This website highlights the University of Louisville retirement plan benefits. Every effort has been made to ensure the accuracy of this information. However, in the event of a discrepancy between this website and the plan document and agreements, the plan document and agreements will govern.