Supplemental Retirement Plan Comparison Chart

Supplemental Retirement Plan

401(k)

Roth 401(k)

403 (b)

Roth 403(b)

457(b)

Roth 457(b)

Roth IRA

Deferred Income Companies

SC Deferred Compensation Program (DCP)

Reference the OHR Supplemental Retirement Programs webpage and click “Enrolling in and Contributing to a Plan”

SC Deferred Compensation Program (DCP)

Independent Plan- not associated with employment

Ownership and Vesting

Account in Employee's name - 100% immediately vested

Payroll Deduction through Clemson

Yes

Yes

Yes

No

Yes

Yes

No

Employer Contribution

No

No

No

No

Fees

Variable - Please check with the plan vendor

Enroll/Changes/ Cancellations

1.) Contact the vendor directly for their enrollment packet

2.) Contributions to 401(k) and 457(b) plans can be designated and changed through the employee’s SC Deferred Compensation profile. Contributions to 403(b) plans can be designated and changed by contacting the Office of Human Resources (OHR) at (864) 656-2000 or online at Ask-HR

Independent Plan

Maximum Annual Contributions

For 2020: $19,500; 401(k) & 403(b) coordinated limit

For 2020: $19,500

For 2020: $6,500, income limits apply

Catch-Up Provision for 50 or older

For 2020: Age 50 or older, $6,500; 401(k) & 403(b) coordinated limit

For 2020: Age 50 or older, $6,500

For 2020: $1,000, income limits apply

Special Catch-Up Provision

No

No

Yes - Within 3 years of retirement

No

Taxability

Pre-Tax Contributions.

Investment growth is not subject to federal and state income taxes until funds are withdrawn.

After-tax contributions.

Tax- free withdrawals after account has been in place for 5 years and  owner is at least age 59.5.

Pre-Tax Contributions.

Investment growth is not subject to federal and state income taxes until funds are withdrawn.

After-tax contributions.

Tax- free withdrawals after account has been in place for 5 years and  owner is at least age 59.5.

Pre-Tax Contributions.

Investment growth is not subject to federal and state income taxes until funds are withdrawn.

After-tax contributions.

Tax- free withdrawals after account has been in place for 5 years and  owner is at least age 59.5 who has separated from state service.

After-tax contributions.

Tax- free withdrawals after account has been in place for 5 years and  owner is at least age 59.5.

Loan Provisions

Available - Contact SC DCP (restrictions apply)

Available - Contact Vendor (restrictions apply)

Available - Contact SC DCP (restrictions apply)

None

Direct Transfers

Pre-tax to
Pre-tax
Allowed

Roth to Roth
Allowed

Pre-tax to
Pre-tax
Allowed

Roth to Roth
Allowed

457 to 457
Allowed

Allowed

Rollovers

Contact Vendor; restrictions apply

This page is for informational purposes only and is provided with the understanding that Clemson University is not rendering legal/tax/investment advice. If such advice is desired, employees should consult their independent legal counsel, tax consultant, and/or financial planner. The University neither endorses nor recommends one investment vehicle over another.