Contributing to the Plan
When you enroll, you decide what dollar amount of your pay you want to contribute to the Plan and if you would like to make those contributions on a pre-tax or after-tax (Roth) basis. The minimum contribution to the State of Missouri Deferred Compensation Plan per pay period is: $12.50 for semi-monthly payrolls and $25.00 for monthly payrolls.
You may contribute from the minimum of $25.00 per month (or $12.50 semi-monthly) to 100% of your paycheck, not to exceed the annual maximum set by the IRS. You may defer up to the IRS limit annually as shown in the following table. NOTE: Contribution limits listed below apply to the combination of pre-tax and Roth contributions
| Maximum Annual Deferral – under age 50 |
$17,000 |
| Age 50 and Over Catch-up Contribution* |
$5,500 |
| 3-year Catch-up Contribution** |
$17,000 |
*Age 50 and Over Catch-up Provision
If you are age 50 and over, you have the ability to make additional catch-up contributions of $5,500 if you contribute the maximum $17,000, for a total of $22,500 to your Plan account.
**Pre-Retirement Catch-up Provision
If you are within three years prior to the year of your retirement, you may be able to double the normal contribution limit and contribute $34,000 to your Plan. You cannot contribute to the Three-Year Special Catch-Up and the Age 50 and Over Catch-Up Contribution during the same tax year.
Contributions will be automatically deducted from your paycheck before taxes are taken out. You must also decide how your contribution will be allocated among your choice of investment options. You can obtain information on the available investment options by going to the Fund Information section of this website.