Benefits

457(b) Deferred Compensation Plan

When you retire, you may need income for 20, 30, or more years. While the Base Retirement Plan and Social Security may help cover basic living expenses, participating in the Deferred Compensation Plan may help add to your retirement savings. MSU offers a voluntary, tax-deferred Deferred Compensation Plan. This plan is funded entirely by employee contributions on a pretax basis. Your contributions are deducted from your salary before taxes are taken out. You also pay no taxes on the earnings in your Deferred Compensation Plan until you withdraw funds from the account. You may enroll in the Deferred Compensation Plan and change or cancel the amount of your contribution at any time.