Knowledgebase/FAQ : Retirement > UT System Retirement - UTSaver457b Program
* Contact your institution's benefit office before your last day of employment. * Complete a Purchase Agreement before your last day of employment. * If you do not have a UTSaver 457(b) DCP account, choose a Provider from the list of approved Prov...
Not at this time. Only the 457(b) DCP account is eligible to receive the deferral for unused annual leave
You can defer any portion of your unused annual leave payment up to the 457(b) limit. Federal income tax will not be withheld for the amount you defer to the UTSaver DCP. However, deductions for Social Security and Medicare will be withheld.
Yes, you may defer part of your unused annual leave payment to your UTSaver 457(b) DCP account and receive a check for the remainder, which will be taxable. Maximum annual deferral limits apply.
Unused sick leave balances are not paid to University of Texas employees when they separate from service either by termination or retirement. Therefore, there are no funds to defer to a UTSaver account.
No, you can only defer to a UTSaver 457(b) DCP account.
No. Only amounts that are payable are eligible to be deferred to the UTSaver DCP. The annual leave amounts in excess of the carryover maximum from one fiscal year to the next fiscal year are not eligible for payment.