Deferred Compensation

Under current tax law Tennessee Board of Regents employees are permitted to put aside a portion of gross income and defer paying taxes on that income and the interest it earns until such time as you actually receive the funds (generally upon retirement).  The university offers a variety of deferred income plans, which make it possible for employees to take advantage of this provision in the law. Enrollment in these programs is voluntary and the decision to participate resides solely with each employee.  Deferred Compensation plans are geared for retirement, so contributions cannot be withdrawn before separation from service unless indicated by the plan document.  If you have any questions regarding eligibility or enrollment, please contact the HRS office at 898-2929.

2016 Maximum Contribution Limits

401(k) and 403(b) combined maximum age 50 or older:     $24,000
401(k) and 403(b) combined maximum under age 50:        $18,000
457 maximum age 50 or older:                                            $24,000
457 maximum under age 50                                                $18,000

403(b) Plan – A 403(b) plan is a supplemental retirement plan which allow employees to save for retirement on a tax-deferred basis.  Contributions are made through regular payroll deductions and can be invested with any of the TBR approved vendors.  TBR vendors are listed below along with each plan representative contact information.  Once enrolled in a 403(b) plan, employees must submit a 403(b) Payroll Deduction Form to the MTSU Human Resources office.  Contributions into a 403(b) plan cannot be withdrawn until separation from service. 

278 Franklin Road, Suite 151
Brentwood, TN 37027
Thomas McClendon
(615) 631-8207

214 Second Avenue North, Suite 2
Nashville, TN 37201
Ed Stewart, CFS, ChFC, CLU
(615) 627-5936
Quest Financial Group, LLC
720A S. Church St.
Murfreesboro, TN 37130
Gina Embry, CFP
(615) 962-9122 phone
(615) 962-9131 fax

730 Third Avenue
New York, NY 10017

401(k), Roth 401(k) and 457 Plans – Two optional tax deferred retirement savings plans operated by the State; a 457 plan and a 401(k) plan.  Contributions are made through regular payroll deductions and contributions cannot be withdrawn before separation from service with very few limited exceptions.  The Roth 401(k) is an after-tax deferred plan.  Information on these plans is located on the State’s designated web page at .

All participant enrollment, changes or cancellations for the 401(k) and 457 plans must flow directly through the plan administrator, Empower.  In addition, any loan changes or initiations must also go directly to Empower.

The following information provided by Empower outlines the process that employees need to follow:

  • New enrollments should be mailed directly to the plan administrator, Empower and can be completed at any time throughout the year.  New enrollment forms are located on the State’s web page at .
  • Client Services Representatives are available Monday through Friday to assist employees regarding any changes to contribution amounts.  They can be reached at 1-800-922-7772 between 8 am CST through 7 pm CST.
  • If employees have a PIN number to access their personal account online they can make any changes to their deferral amounts there as well.  To access their personal account they can logon to or “Empower” access.  If they do not have a PIN number but would like one to access the website they must first call Client Services at 1-800-922-7772 to obtain a temporary PIN number.

401(k), Roth 401(k), and 457
Empower Retirement Services
545 Mainstream Drive, Suite 407
Nashville, TN 37228
401(k), Roth 401(k) and 457 Enrollment Guide