Embark on Your Wealth Building Journey
With a 403b Savings Plan
THERE ARE TWO TYPES OF SAVERS!
Those who Spend First
Then Try to Save!
Those who Pay Themselves First
Then Spend!
You Need to Fill-in
the Major Gap!
Between your Working Years
& NO Living-Cost-Adjustment!
The Vital Need for a 403(b) plan?
Traditional Pensions Lack Cost of Living Adjustments (COLA).
A 403(b) plan is not just a "want" but a "need."
It Safeguards Against Inflation
Ensuring a Secure Retirement.
Meet Jason’s 403(b) Needs!
Jason, a retired teacher with a fixed $57,000 annual pension.
Inflation over 20 years erodes the purchasing power of his pension.
His $4,600 yearly property tax becomes a burden.
Enter the 403(b) Plan: A vital savings tool.
Jason uses his 403(b) savings to supplement his pension.
Key Message:
A 403(b) plan is essential, especially in areas with non-COLA pensions.
It secures retirees like Jason against the impact of inflation, ensuring financial stability in retirement.
What is a 403(b) plan?
It is an IRS Code Designed Specifically for:
Employer-sponsored retirement plan
Public School Employees & Nonprofits
Key Benefits:
Tax Savings: Pre-tax contributions
Tax-Deferred Growth: Maximize returns
Diverse Investments: Customize your Portfolio
Expert Guidance: Personalized advice
How much can I contribute?
Generally, the lesser of
— 100% of includible compensation, or
— $23,000 contribution amount for 2024Your district may allow
$26,000 if eligible for 15 years of service catch-up (2024)
$30,500 if eligible for age 50 or older catch-up (2024)
Your employer may also contribute aggregate limits for multiple plans
Accessing Money in your 403(b) Plan
Withdrawals from a 403(b) plan may not begin before
Age 59½
Separation from service
Exceptions: certain hardships (if allowed by plan) or in cases of disability or death of employee
10% federal penalty tax for early withdrawal
Taxes are payable when money is withdrawn
Why participate in a 403(b) plan?
Pre-tax salary contributions reduce current taxable income
Convenient payroll reduction
Help better prepare yourself for retirement
Many people experience substantial changes in their income and expenses both when they retire and in the following years.
CONTRIBUTION COMPARISON
INCOME
GROSS PAY
403b Deduction/Pay
FED TAX / Pay
FED TAX %
NET PAY
AFTER TAX
WITHOUT 403b
$1,000
$0.00
$1,000
20%
$760.00
$0.00
WITH 403b
$1,000
$200
$800
20%
$608.00
$152.00
How do I start?
Obtain information about your 403(b) plan
Answer a Few Questions Using this
Fill out the Salary Reduction Agreement
Submit the Form & Complete Account Agreement
If you wish to schedule a calendar appointment, kindly click the button below.
Contact Us
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