Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

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Naturally Brilliant
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Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

Post by Naturally Brilliant » Thu May 23, 2019 11:21 am

I'm starting a job with the University of Texas (UT) System in a few weeks, and I know that they have a 457 plan that I can invest in. However, it currently doesn't have a Roth option. Obviously, not the end of the world by any means, but I do know that other states' educational systems have Roth 457s (e.g., University of Massachusetts). Is there a way to ask the benefits office for a Roth option on their 457 plan? Has it ever been done successfully?

carmonkie
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Re: Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

Post by carmonkie » Thu May 23, 2019 11:34 am

That is a tough one as it is governed by the Teacher Retirement System (TRS). I am sure it has been asked before and would not hurt to ask again, but TRS is a different animal...

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Re: Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

Post by Naturally Brilliant » Thu May 23, 2019 12:08 pm

I think it's actually separate from TRS. Here's the website with the details:
https://www.utsystem.edu/offices/employ ... r-dcp-457b

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Re: Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

Post by Katietsu » Thu May 23, 2019 1:24 pm

Don’t they have a Roth 403b? I suspect that might be where they would point you.

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Re: Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

Post by Naturally Brilliant » Thu May 23, 2019 2:47 pm

They do, but not a Roth 457. UMass System has Roth for both!

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Re: Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

Post by dbr » Thu May 23, 2019 5:22 pm

There is not going to be a way for an individual to just ask an office at the University of Texas for a particular employment benefit.

It might be possible to make a suggestion to the benefits advisory committee https://www.utsystem.edu/offices/employ ... mittee-bac as a starting point for revising this part of the benefits system to make a Roth 457 available. It is also possible this is not even the right committee, but some part of the organization does exist that could be addressed.

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Re: Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

Post by Naturally Brilliant » Thu May 23, 2019 7:05 pm

Thank you so much! Once I start my job, I will definitely email my rep requesting the Roth option on the 457 plan, too! :happy

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Re: Is there a way to successfully ask a benefits office for a Roth option on their 457 plan?

Post by Naturally Brilliant » Sun May 26, 2019 5:51 pm

Okay, so this is confusing me. I found the 457/DCP plan's actual document, and it states that the Plan allows for Roth elective deferrals:
https://www.utsystem.edu/documents/docs ... n-document
https://www.utsystem.edu/sites/default/ ... policy.pdf

However, when I go to the plan providers (e.g., TIAA, Fidelity), it doesn't say anything about a Roth option. This other document says that the DCP/457 is with pre-tax dollars:
https://www.utsystem.edu/sites/default/ ... 122018.pdf

I am so confused. Why is this not up-to-date with the actual plan?

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