FPPA

FPPA offers both plans and each one offers unique saving advantages. This handout compares them side-by-side and provides a chart to help you decide how much to save each month.

FPPA
457 Deferred Compensation and Money Purchase Plans

IRS Annual
Contribution Limits

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FPPA Self-Directed Plans

Statewide Money Purchase Plan (SWMP)

Visit the SWMP page for general information about this plan.
Visit Fidelity for plan forms, investments, and to name a beneficiary.

Statewide Retirement Plan: Money Purchase Component (SRP: MP)

Visit the SRP: MP page for general information about this plan.
Visit Fidelity for plan forms, investments, and to name a beneficiary.

457 Deferred Compensation Plan

Enroll today!

FPPA 457 Plan vs. ROTH 457 Plan - Save For Retirement YOUR Way

See if your Employer has adopted the 457 Deferred Compensation Plan

Visit Fidelity for plan forms, investments, and to name a beneficiary.

DROP - Deferred Retirement Option Plan (if invested at Fidelity)

DROP is explained in each of the following Statewide Retirement Plan brochures:

Defined Benefit Component
Social Security Component
Hybrid Defined Benefit and Money Purchase Components
Colorado Springs New Hire Plans: Police or Fire

Visit Fidelity for plan forms, investments, and to name a beneficiary.

457 and Money Purchase Plan Contribution Limits

IRS Annual Contribution Limits

Learn more on Fidelity’s Website

2024 Contribution Limits

457 Deferred Compensation Plan IRS Annual Contribution Limit

$23,000 This limit includes both employee and employer contributions

2 Ways to Catch-Up on 457 Contributions

Age 50+ Catch-up | IRS Annual Contribution Limit of $7,500
- Beginning in the year the member turns age 50, they can make additional annual “catch-up contributions” to the FPPA 457 Deferred Compensation Plan
3 Year Catch-up | IRS Annual Contribution Limit of $46,000
- This provision allows members the potential to double their 457 contributions when they are within three full calendar years of the normal retirement age specified by their retirement plan

Statewide Money Purchase Plan and Statewide Retirement Plan: Money Purchase Component

Money Purchase Plan (Defined Contribution) IRS Annual Contribution Limit

$69,000 This limit includes both employee and employer contributions

Click here to print the 2024 information.

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Name or Update a Beneficiary

Follow one of these THREE ways to name or update your beneficiary information:

Call Fidelity at (800) 343-0860 and have a beneficiary form sent to you
Click on the Fidelity button above associated with your self-directed plan and then select 'Beneficiaries'
Connect to your Fidelity NetBenefits® account and select 'Beneficiaries'

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