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TRS rolls out uniform 457(b) Supplemental Savings Plan with Voya; how to enroll and how it differs from a 403(b)
Summary
Voya explained the TRS Supplemental Savings Plan (SSP), a voluntary 457(b) for TRS members with a $23,500 IRS limit for 2025, traditional and Roth options, investment choices, and the SSP enrollment steps and security PIN process.
Tanya Coleman of Voya described the TRS Supplemental Savings Plan (SSP), established after the Illinois General Assembly amended the pension code in 2018 to allow a standardized supplemental plan for TRS members.
Coleman said the SSP is a 457(b) deferred compensation plan chosen by TRS to provide a low‑cost, uniform option for members. "The TRS supplemental savings plan, which I will refer to as the SSP, is a 4 57 b deferred contribution plan that complements your TRS pension," she said. She noted IRS elective deferral limits for 2025 of $23,500 and that the TRS…
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