Supplemental Retirement Plans

• Traditional 401(k): contributions are tax-deferred resulting in a lower taxable income, however distributions are taxed as income; minimum age for distribution is 59 1/2.
• Roth 401(k): contributions are taxed, but savings and investment earnings are withdrawn tax-free if you are age 59 1/2 and have held the account for at least five years.

*Please be advised the South Carolina Deferred Compensation Program is offering a percentage option for employee contributions. MUSC is not able to offer this option to employee's due to system limitations. MUSC employees can only elect a dollar amount contribution for the 401k, 457 and 403b plans.

South Carolina Deferred Compensation 401(k) Program Enrollment:

Online Enrollment: Online enrollment is only available to new employees. If you are a transfer or returning to work, please use the Paper Enrollment Form below.

• Visit southcarolinadcp.com
• Click on REGISTER/ENROLL under Participant Login.
  To visit the site from a mobile phone or tablet, you must download the Empower app. In the mobile app, select Register now to begin the enrollment process.
• Select the I have a plan enrollment code tab.
• If you want to enroll in the 401(k) Plan:
• Enter the Group ID/Plan number: 98955-01
• Enter the Plan Enrollment Code: cDDZn8um (expires October 1, 2025)
• Follow the prompts to enroll.
• If you need assistance with the online enrollment process, contact Empower’s Participant Service at 877-457-6263.

Paper Enrollment: If you are unable to enroll online, are a transfer employee or returning to work, please utilize the Enrolment Form below

• South Carolina Deferred Compensation Enrollment Form (PDF)
• This enrollment form is for MUSC University employees only. If you are a MUHA or MCP employee please email Lisa Beattie for the appropriate enrollment form for your division.
• Complete the form and email to benefits@musc.edu. A member of the University Benefits Department will submit the form securely to South Carolina Deferred Compensation. You may also fax the form to 803-754-7661.

South Carolina Deferred Compensation Program Resources:

401k and 457 Plan Comparison (PDF)
401k and 457 Program Highlights (PDF)
SCDCP Beneficiary Form (PDF)
SCDCP Video Resources (PDF)
SCDCP Loan Highlights (PDF)

• Traditional 457: contributions are tax-deferred resulting in a lower taxable income, however distributions are taxed as income; no minimum age for distribution, but must be separated from employment.
• Roth 457: contributions are taxed, but savings and investment earnings are withdrawn tax-free once you separate employment and the account has been open for at least five years.

*Please be advised the South Carolina Deferred Compensation Program is offering a percentage option for employee contributions. MUSC is not able to offer this option to employee's due to system limitations. MUSC employees can only elect a dollar amount contribution for the 401k, 457 and 403b plans.

South Carolina Deferred Compensation 457 Program Enrollment:

Online Enrollment: Online enrollment is only available to new employees. If you are a transfer or returning to work, please use the Paper Enrollment Form below.

• Visit southcarolinadcp.com
• Click on REGISTER/ENROLL under Participant Login.
  To visit the site from a mobile phone or tablet, you must download the Empower app. In the mobile app, select Register now to begin the enrollment process.
• Select the I have a plan enrollment code tab.
• If you want to enroll in the 457(b) Plan:
• Enter the Group ID/Plan number: 98955-02
• Enter the Plan Enrollment Code: JbOfnmJ7 (expires October 1, 2025)
• Follow the prompts to enroll.
• If you need assistance with the online enrollment process, contact Empower’s Participant Service at 877-457-6263.

Paper Enrollment: If you are unable to enroll online, are a transfer employee or returning to work, please utilize the Enrolment Form below

• South Carolina Deferred Compensation Enrollment Form (PDF) 
• This enrollment form is for MUSC University employees only. If you are a MUHA or MCP employee please email Lisa Beattie for the appropriate enrollment form for your division.
• Complete the form and email to benefits@musc.edu. A member of the University Benefits Department will submit the form securely to South Carolina Deferred Compensation. You may also fax the form to 803-754-7661.

South Carolina Deferred Compensation Program Resources:

401k and 457 Plan Comparison (PDF)
401k and 457 Program Highlights (PDF)
SCDCP Beneficiary Form (PDF)
SCDCP Video Resources (PDF)
SCDCP Loan Highlights (PDF)

MUSC offers Tax Sheltered 403(b) Annuity Plans through various vendors. These contributions are also tax-deferred, but will be taxed at distribution as income and the minimum age for distribution is 59 1/2. Contact the representatives to learn more about each company and their investments. Please also review the Corebridge 403b flyer (PDF).

To start a 403b plan, you will need to complete a contract/enrollment form with the company you choose and begin your contributions online. If you need assistance, please contact the Benefits staff at 843-792-2071, Option 4; or benefits@musc.edu. You can also contact Retirement Manager's Participant Call Center at 1-866-294-7950. Monthly paid employees must make their change by the 10th of the month for their contribution to be effective that month. Biweekly paid employee contribution changes will be effective the next available pay period after the change is received.