Got Questions?

If you have questions about your USG retirement plans, these frequently asked questions and answers may help.

Optional Retirement Plan (ORP)

Eligibility
- Who is eligible to participate in the Optional Retirement Plan (ORP)?
All exempt, benefits-eligible employees are eligible to participate in the plan. If you’re eligible and want to participate in the ORP, you must make an election within your first 60 days of employment with USG.
- I’m eligible to participate in the ORP and I made my election within 60 days. Can I change to the Teachers Retirement System Plan (TRS) later if I change my mind?
No. It’s a one-time, irrevocable choice, and you cannot change it.
- I’m eligible to participate in the ORP. What happens if I don’t make my election within 60 days?
If you don’t elect to participate in the ORP within your first 60 days of employment with USG, you will automatically default into the Teachers Retirement System (TRS) Plan.
Contributions
- Is there a minimum contribution amount to the ORP?
Currently, the mandatory employee contribution rate is 6% and USG’s contribution is 9.24% for 2024.
- Can I decrease or increase the mandatory ORP employee contribution?
No. You are not allowed to decrease or increase the mandatory ORP employee contribution. However, you can participate in one or both of the supplemental retirement plans: 403(b) Plan and 457(b) Plan
- How soon will ORP payroll deductions begin after I enroll?
Your deductions should begin as soon as administratively possible, subject to payroll deadlines. If you enroll on the first of the month, your deductions should begin that month.
- Does the ORP accept rollover contributions?
No. The ORP does not accept rollover contributions from any source, including other qualified plans, 403(b) plans, 457(b) plans or IRAs.
Leaving USG
- What happens if I leave USG? Will I still receive the amounts contributed to my ORP account?
Yes. As an ORP participant, you are 100% vested in both employee and employer contributions at all times. If you take a distribution of your account balance before retirement, you must roll over your balance into another qualified plan (either your new employer plan, if it accepts rollover contributions, or an IRA) within 60 calendar days of the distribution in order to avoid a tax penalty.
Withdrawals and Distributions
- When can I start taking distributions from my account without penalty?
You must be at least age 55 or older and no longer working for USG to start taking distributions from your account.
- When will I have to pay taxes?
You’re responsible for paying federal and state income taxes on any withdrawal from the plan. You can withdraw from your ORP account when you retire or if you leave USG. Your beneficiary or beneficiaries can request a distribution from your ORP account if you die.
- When am I required to begin mandatory distributions?
You must begin taking mandatory required minimum distributions by April 1 following the calendar year in which you reach age 73, provided that you are no longer employed with USG.
- Are distributions allowed for unforeseen emergencies or hardships?
No. Distributions are not allowed for unforeseen emergencies or for hardships.
- Are loans allowed from the ORP?
No. The ORP does not permit loans from the plan.
- What happens to my account balance if I die?
If you die, your account balance will be paid to your beneficiary or beneficiaries.
- Who do I contact to withdraw my assets from the ORP?
If you’re no longer working for USG and wish to withdraw your assets from the ORP, you’ll need to contact your local HR/Benefits Department at the institution where you were last employed in order to sign off on the distribution request from your retirement plan provider.

403(b) Plan

Eligibility

Who is eligible to participate in the 403(b) Plan?

All exempt employees and nonexempt employees (except for student workers) may enroll at any time during employment.

Contributions

Can I make pre-tax and/or after-tax (Roth) contributions to the plan?

Yes. You can contribute to the 403(b) Plan on a pre-tax basis, an after-tax (Roth) basis or a combination of both.

How much can I contribute to the plan?

The current maximum IRS contribution limit (for 2024) is $23,000 annually. Catch-up provisions allow you to contribute an additional $7,500 if you’re age 50 or older in 2024.

How soon will payroll deductions begin after I enroll?

Your deductions should begin as soon as administratively possible, subject to payroll deadlines. If you enroll on the first of the month, your deductions should begin that month.

Does my employer contribute to the plan on my behalf?

No. The 403(b) Plan currently only receives employee-directed contributions.

Does the 403(b) Plan accept rollover contributions?

Yes. The plan accepts rollover contributions from any source, including other qualified plans, 403(b) plans, 457(b) plans and/or IRAs.

Leaving USG

What happens if I leave USG?

If you leave USG, you can keep your assets in the plan, or you can take your assets from the plan. You are 100% vested in your contributions. If you take a distribution of your account balance before retirement, you must roll over your balance into another qualified plan (either your new employer plan if it accepts rollover contributions or an IRA) within 60 calendar days of the distribution in order to avoid a tax penalty.

Investing Your 403(b) Account Balance

Which retirement plan provider(s) can I invest with?

USG has partnered with the following three retirement plan providers to provide investment choices for your 403(b) account: Corebridge Financial (formerly AIG Retirement Services), Fidelity Investments and TIAA. Learn more here.

You can allocate your plan contributions to one or more of these retirement plan providers.

How can I get help choosing investments that are right for me?

USG has partnered with CAPTRUST Financial Advisors, an independent financial advisory firm, to offer dedicated 45-minute virtual advisory sessions to help address your financial concerns, improve your financial wellness and work with you on your retirement goals. CAPTRUST can help you choose investments that are right for you.

Visit the CAPTRUST scheduling tool to make an appointment or call CAPTRUST at 1-800-967-9948, Monday to Thursday, 8:30 a.m. to 5:30 p.m. ET, and Friday, 8:30 a.m. to 4 p.m. ET.

You can get additional guidance and education over the phone or in person from your chosen retirement plan provider(s):

Corebridge (formerly AIG Retirement Services)	1-800-448-2542, weekdays, 8:30 a.m. to 5:30 p.m. ET	Corebridge Financial (formerly AIG Retirement Services) website
Fidelity	1-800-642-7131, weekdays, 8 a.m. to 9 p.m. ET	Fidelity Investments website
TIAA	1-800-732-8353, weekdays, 8 a.m. to 8 p.m. ET	TIAA website

Withdrawals and Distributions

When can I start taking qualified distributions from my 403(b) Plan account?

You can start taking distributions from your 403(b) Plan account when you reach age 59½.

When will I have to pay taxes?

When you withdraw pre-tax contributions from the plan, you’re responsible for paying federal and state income taxes on those amounts.

Qualified distributions from your after-tax Roth account are tax-free. Generally, a qualified Roth distribution is a distribution that:

Is withdrawn after the end of the five-year period beginning with the first year in which a Roth contribution was made to the plan; and
Is after age 59½, death or disability.

You can withdraw from your 403(b) Plan account when you reach age 59½ or if you leave USG. Your beneficiary or beneficiaries can request a distribution from your 403(b) Plan account if you die.

Are distributions allowed for immediate financial hardships?

Yes. Distributions are permitted for immediate financial hardships.

Are loans allowed?

Yes. You are permitted to borrow from your plan account. You can have two loans outstanding at any given time: one general purpose loan and one residential loan.

What happens to my account balance if I die?

If you die, your account balance will go to your beneficiary or beneficiaries.

457(b) Plan

Eligibility

Who is eligible to participate in the 457(b) Plan?

All exempt employees and nonexempt employees (except for student workers) may enroll at any time during employment.

Contributions

Can I make pre-tax and/or after-tax (Roth) contributions to the plan?

Yes. You can contribute to the plan on a pre-tax basis, an after-tax (Roth) basis or a combination of both.

How much can I contribute to the plan?

The current maximum IRS contribution limit (for 2024) is $23,000 annually. Catch-up provisions allow you to contribute an additional $7,500 if you’re age 50 or older in 2024.

How soon will payroll deductions begin after I enroll?

Your deductions should begin as soon as administratively possible, subject to payroll deadlines. If you enroll on the first of the month, your deductions will begin the during the first payroll cycle of the following month.

Does my employer contribute to the plan on my behalf?

No. The plan currently only receives employee-directed contributions.

Does the 457(b) Plan accept rollover contributions?

Yes. The plan accepts rollover contributions from any source, including other qualified plans, 403(b) plans, 457(b) plans and/or IRAs.

Leaving USG

What happens if I leave USG?

Investing Your Account Balance

Which retirement plan provider(s) can I invest with?

How can I get help choosing investments that are right for me?

Visit the CAPTRUST scheduling tool to make an appointment or call 1-800-967-9948, Monday to Thursday, 8:30 a.m. to 5:30 p.m. ET, and Friday, 8:30 a.m. to 4 p.m. ET.

You can get additional guidance and education over the phone or in person from your chosen retirement plan provider(s):

Corebridge Financial (formerly AIG Retirement Services)	1-800-448-2542, weekdays, 8:30 a.m. to 5:30 p.m. ET	Corebridge Financial (formerly AIG Retirement Services) website
Fidelity	1-800-642-7131, weekdays, 8 a.m. to 9 p.m. ET	Fidelity Investments website
TIAA	1-800-732-8353, weekdays, 8 a.m. to 8 p.m. ET	TIAA website

Withdrawals and Distributions

When am I required to begin mandatory distributions from my 457(b) Plan account?

You must begin taking mandatory required minimum distributions by April 1 following the calendar year in which you reach age 73, provided that you are no longer employed with USG.

When will I have to pay taxes?

When you withdraw pre-tax contributions from the plan, you’re responsible for paying federal and state income taxes on those amounts.

Qualified distributions from your after-tax Roth account are tax-free. Generally, a qualified Roth distribution is a distribution that:

Is withdrawn after the end of the five-year period beginning with the first year in which a Roth contribution was made to the plan; and
Is after age 59½, death or disability.

You can withdraw from your 457(b) Plan account if you leave USG or in the event of mandatory required distributions when you reach age 73, provided that you are no longer employed with USG. Your beneficiary or beneficiaries can request a distribution from your 457(b) Plan account if you die.

Are distributions allowed for unforeseen emergencies?

Yes. Distributions are permitted for unforeseen emergencies.

Are loans allowed?

Yes. You are permitted to borrow from your plan account. You can have two loans outstanding at any given time: one general purpose loan and one residential loan.

What happens to my account balance if I die?

If you die, your account balance will go to your beneficiary or beneficiaries.