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Voya explains TRS supplemental savings plan (457(b)): enrollment, tax options and access rules
Summary
Voya Financial, the TRS supplemental savings plan (SSP) administrator, described the 457(b) plan’s pretax and Roth options, contribution limits and investment approaches and highlighted unique access features compared with 403(b) plans.
Terry Bailey, a retirement plan education specialist with Voya Financial, summarized the TRS Supplemental Savings Plan (SSP), a voluntary 457(b) deferred compensation plan TRS contracted Voya to administer.
The plan is voluntary and intended as a uniform, low‑cost option for TRS members. For 2025, the IRS annual elective deferral limit noted in the session is $23,500. Minimum payroll contribution into the SSP is $30 per pay (or 1% of each paycheck), and contributions are…
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