Prior 457 Plans for Retirees
Assets in the Prior 457 Plan that started in 1974 and transferred to ERS on January 1, 1991 were allowed to remain with the existing administrators; this affects only a small number of participants. You can roll over accounts in these prior eligible governmental 457 plans into a Texa$aver℠ 401(k) and/or 457 account. By consolidating your funds, you may save on monthly account plan and management fees.
Actively employed and terminated participants: Use this form to change your beneficiary information and/or to stop deferrals to a life insurance product. You can type information directly into the online form, print it and send it to your agency benefits coordinator. The benefits coordinator will sign and send a copy to ERS. Note: Only beneficiary designations made on ERS 457 forms (ERS DC 10.01) will be processed. ERS will not accept other forms or requests to designate beneficiaries for the Prior 457 Plans.
Former state employee participants and their beneficiaries: Use this form for rolling funds into an IRA lump sum or partial lump sum, or a change of ownership of a life insurance policy. This form must be completed and submitted to your agency benefits coordinator; the coordinator will send a copy to ERS.
All participants: Use this form to transfer funds from your Prior 457 Plan to a Texa$aver account.
All participants: Use this form for a one-time (de minimis) election that allows a distribution from the Prior 457 Plan when the total plan account, including funds held through Texa$aver 457 Plan, is $5,000 or less and no deferrals have been made for two years. Complete form and return to ERS for review and approval of distribution. (ERS DC 2.900)
Active employee participants: Use this form for unforeseeable emergency withdrawal; subject to approval. This form (ERS DC 2.899) must be submitted directly to ERS.