Employees may enhance their retirement plan savings through voluntary pre-tax contributions to either a Tax Deferred (403(b)) or Deferred Compensation (457(b)) account. Employees may elect to contribute to these plan on a pre-tax basis to save additional monies to supplement their income after retirement.
All active YSU employee’s are eligible to participate in the Supplement Retirement Options upon their hire date. To participate, employee must enroll with an approved provider and complete the payroll deduction process through www.myretirementmanager.com. YSU does not contribute to these accounts and all employees investments are 100% vested. Please see our Approved Provider List for contact information for an investment representative. Employee should consider fees, surrender charges, investment returns when selecting a vendor.
The IRS provides annual 403(b) and 457(b) limits which can be found on their website.
Employees who wish to enroll in the Ohio Public Employees Deferred Compensation Program must initiate all paperwork with Ohio DC as it does not coordinate with Retirement Manager.
RETIREMENT MANAGER
To begin a tax deferred 403(b) or 457(b) salary reduction, you must log on to Retirement Manager, YSU's third party administrator, to indicate the amount to be through payroll deductions. Retirement Manager is a convenient, secure, web-based access point from which employee manage their retirement plan activities.
Employees must use the website to change contributions, request loan and withdrawal certificates or read financial planning information.
To register and begin to use your account:
- My Retirement Manager
- Select Your Employer (Youngstown State University)
- Provide User Verification (you must have your Banner ID to complete this process)
- Set up your Security Profile
Quick Reference Guide for Retirement Manager*
Once complete payroll deduction will be ready to begin through the payroll deduction process.
Although account balances are noted on the website it may vary slightly with the selected vendor based on the timing of the last contribution.