Eligibility & Coverage

All state employees are eligible to participate in the 457(b)and 401(k) Plans. Employees of state educational institutions also are eligible for the 403(b) Plan. State educational institutions include state colleges, state universities, the Maryland Department of Education, the Maryland Higher Education Commission, and the Maryland School for the Deaf.

The investment options available in the plans include a stable value fund (also known as the Investment Contract Pool), collective investment trusts, and mutual funds; however, because of limitations on the types of investments permitted in the 403(b) Plan, the stable value fund and collective investment trusts are not available in the 403(b) Plan.

The minimum contribution is $5 biweekly. The maximum contribution per plan is up to 100% of compensation, but not more than the federal limit. When participating in both the 457(b)Plan and the 401(k) Plan (or the 403(b) Plan), a participant may contribute the annual limit to each plan for a potential combined contribution of double the limit.

Catch-Up Provisions

Regular 457(b) Catch-up. The limit on regular catch-up contributions in the 457(b)Plan is double the regular deferral limit. See the limits at
MSRP Contribution Limits.

Catch-up for Over Age 50. Employees over 50 can make catch-up contributions to the 457(b), 403(b) and 401(k) Plans over and above the 401(k) and other limits. See limits at MSRP Contribution Limits.