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Texa$aver
Program makes saving for
retirement simple

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Texas Saver Program

makes saving for retirement simple

color illustration of dollar bill in rocking chairAre you looking for ways to simplify your life? Saving for retirement can be simple when you enroll in the Texa$aver Program. The Texa$aver Program offers two options to state agency employees:

401(k) and 457 Plans are voluntary retirement plans that allow state employees to contribute a percentage of their salary toward retirement savings and pay taxes later on the contributions and earnings. Employees decide how to invest their contributions among choices offered in the Plan. All part-time and full-time state employees are immediately eligible to enroll upon date of hire or anytime thereafter.

Convenient Payroll Deductions – Set aside a portion of each month’s paycheck before income taxes by contributing regularly to your plan through convenient payroll deductions.

Convenient Online Access – 24/7 access to accounts, plan information, and education. Automated toll-free information line, 24 hours a day at (800) 634-5091. Knowledgeable Customer Service Representatives are available weekdays, 8:00 a.m. to 7:00 p.m. CST.

Advice – Access CitiStreet Advisor Service using the online investment advisor service. Texa$aver participants are automatically enrolled under this service and a monthly fee of 50 cents is deducted from your Texa$aver account. If you are in both the 401(k) and 457 Plans, you pay only one fee. For an additional fee, CitiStreet Financial Advisors will provide personalized account services. Call CitiStreet Advisor Service for more information at (800) 634-5091, Option 5.

Information – Easy-to-read quarterly statements, informative quarterly newsletters and on-site seminars scheduled throughout Texas are available to assist employees in understanding the Plan and its investment options. A complete schedule of the seminars is listed on the home page of the website www.texasaver.com.

Affordable – Minimum monthly contribution for the 401(k) Plan is 1% of eligible pay and the minimum monthly contribution for the 457 Plan is $20.00. The maximum annual deferral for both the 401(k) and 457 Plans is $15,000.

Investments – Choose from a wide range of investment options, selecting from several mutual funds, a stable value account and the Schwab Personal Choice Retirement Account (PCRA). The PCRA, a self-directed brokerage account with Charles Schwab, offers stocks, bonds, and certificates of deposit with application transaction fees and commissions, as well as access to more than 3,200 mutual funds.

To review a comparison chart of the 401(k) and 457 Plans refer to the ERS website at :
http://www.ers.state.tx.us/DeferredComp/Default.htm.

Enroll Now! It’s never too late to get started.

There are several ways to enroll in Texa$aver. Choose the most convenient way for you and start saving today for your retirement.

Enroll Online: Log on to www.texasaver.com. The website will navigate you through the enrollment process. You will need your PIN to open your Texa$aver account online. To obtain your PIN, or if your PIN has been misplaced, call (800) 634-5091. Your PIN will then be mailed to you at your address on file with the Employees Retirement System of Texas.

Enroll by Telephone: Call toll-free (800) 634-5091 weekdays from 8:00 a.m. to 7:00 p.m. CST and speak with a Customer Service representative who can guide you through the enrollment process. A PIN is not required.






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