Deferred Compensation
In accordance with Chapter 609.509 of Texas Government Code, the Board of Trustees (Board) of the Employees Retirement System of Texas (ERS) is authorized to contract for the necessary goods and consolidated billing, accounting, and other services provided with a deferred compensation plan. As of August 2013, there are approximately 135,200 401(k) accounts and 24,600 457 accounts totaling over $2.1 Billion in assets.
Overview of the Deferred Compensation Program
In accordance with Chapter 609.509 of Texas Government Code, the Board of Trustees (Board) of the Employees Retirement System of Texas (ERS) is authorized to contract for the necessary goods and consolidated billing, accounting, and other services provided with a deferred compensation plan. Offers the following investment classes:
- Money Market Fund
- Bond Index Fund
- Balanced Fund
- Large Cap Value Fund
- Large Cap Core Fund
- Large Cap Growth Index Fund
- Mid-Cap Value Fund
- Mid-Cap Growth Fund
- Small Cap Value Fund
- International/Global Fund
- Target Date Funds; and
- Self-Directed Brokerage Account
More about Deferred Compensation
Deferred Compensation History
Under the auspices of the Texas Comptroller of Public Accounts (CPA), the State of Texas introduced a 457 Plan as the state's Deferred Compensation Program (Program) in 1974.
More about Deferred Compensation History
Contracting Schedule
The contracting schedule provides a view of current products and services offered in the Texa$aver program including the current vendor(s) and their respective effective dates and expiration dates.