SoonerSave
Roth 457 is here! Learn more or log into your account to save with post tax contributions now.
A Defined Contribution Plan administered by OPERS
As a state employee, you can save additional money for retirement by participating in SoonerSave. You can supplement your OPERS benefit by contributing and investing in the 457 Deferred Compensation Plan. Even better, the State of Oklahoma provides an employer match of $25 per month through the 401(a) Savings Incentive Plan.
State Employees – Enroll Today!
Complete the SoonerSave Participant Quick Enrollment Form and return to your agency retirement coordinator. You can designate your beneficiaries at www.soonersave.com or by using the Beneficiary Designation Form. Contributions will be invested in the default investment option until another designation is made online or by phone.
Plan Documents
Already a participant?
You can manage your account online at www.soonersave.com, by downloading the Empower app or by calling the voice response system at 877-538-3457:
- Access your account balance and see your estimated monthly retirement income
- Increase your contributions
- Manage or transfer among investment options
- Review recent activity, account statements and notices
- View and update beneficiaries
- Meet with your SoonerSave Retirement Plan Counselor
Get the mobile app to view and manage your plan anywhere, any time. Download the Empower app at Google Play or App Store.
Contributions
You can make pre-tax, Roth, or both contribution types to your SoonerSave 457 plan. Making a pre-tax contribution reduces the state and federal income tax you pay each year. Your pre-tax contributions and any earnings in both plans grow tax-deferred until money is withdrawn. With the Roth option, you pay taxes on your contributions now so you don’t have to later. You also get the benefit of not paying taxes on the earnings with a qualified distribution.
LEAVING EMPLOYMENT OR RETIRING
- Consider keeping your money in your SoonerSave account, so it can continue to grow. Learn more about this here.
- If you’re ready to learn about distribution options in SoonerSave, view the SoonerSave Distribution FAQ.
- Use the Required Minimum Distribution (RMD) Calculator to understand when you will be required to begin withdrawing from your retirement savings and how much you will need to withdraw each year.
SoonerSave has a contract with Empower Annuity Insurance Company of America for recordkeeping and account management services. The products and services offered in the retirement markets of Empower Annuity Insurance Compant of America for the Plan is branded as Empower.