PERS & TRS
Benefit-eligible classified employees participate in the Public Employees' Retirement System (PERS). Benefit-eligible certified employees participate in the Teacher Retirement System (TRS). For additional information concerning both PERS and TRS plans, please visit the State of Alaska Division of Retirement and Benefits website or call 1-800-821-2251.
403(b) and 457(b) Plans
Similar to 401(k) plans, 403(b) and 457(b) plans allow you to contribute pre-tax money from your paycheck to your 403(b) or 457(b) plan to invest in certain investment products. These pre-tax contributions and their investment earnings will not be taxed until you withdraw the money, typically after you retire.
403(b) Contribution Limits - The limit on elective salary deferrals - the most an employee can contribute to a 403(b) account out of salary is $23,000 for 2024 ($22,500 in 2023; $20,500 in 2022). The catch-up contribution limit for Plan participants aged 50 or older remains at $7,500 for the 2024 tax year.
Employer matching varies with each negotiated agreement. Refer to your agreement for more information.
- More Information on 457(b) Plans
- 5 Things to Do: Getting started with a 403(b) Plan
- Are you aware of your 403b benefit?
To enroll, employees must first open an account with a vendor. Visit the OMNI FNSBSD Provider page to view the list of vendors.
Next, employees need to complete the Salary Reduction Agreement (SRA) on the OMNI website. For information, call OMNI at (877)544-OMNI (6664).