Beginning July 1, 2023, all SURS-eligible new hires were automatically enrolled into the SURS 457 Deferred Compensation Plan (DCP).
- Employees receive a notification letter from SURS informing them that they have 30 calendar days to opt out and prevent automatic deductions.
- The automatic deduction will be 3% pre-tax and is effective the first payroll following the first of the month, or as soon as administratively possible.
- Employees who are auto-enrolled have 90 calendar days to withdraw from the plan and receive a refund. This period begins the day the first plan contribution is processed.
- Participants can increase, decrease, or stop contributions at any time.
- As of July 1, 2023, all newly hired SURS members are enrolled in SURS Deferred Compensation Plan (DCP).
This annual increase will begin on July 1 after the employee has been in the plan for at least 180 days. Employees may opt out of automatic escalation at any time by logging into their SURS member website. See the SURS DCP FAQs for more information.
Employees who were not automatically enrolled may opt in to the SURS DCP by logging into their SURS website. See the SURS DCP FAQs for more information.
