403(b) Retirement plan for employees of public schools and employees of certain tax-exempt organizations.

Your Retirement Savings Plan

You have dedicated yourself to ensuring that our kids have a future. Have you thought about your own? We want you to have a happy retirement with no financial worries. You need a simple plan and an easy way to save. Follow these steps:

1. Take a look at the videos to learn more about saving

2. Use the financial calculators to find out how much you need for retirement

What Is a 403(b) Plan?

A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, is a retirement plan for employees of public schools, employees of certain tax-exempt organizations, and certain ministers.

Individual accounts in a 403(b) plan can be any of the following types.

  • An annuity contract, which is a contract provided through an insurance company.
  • A custodial account, which is an account invested in mutual funds.
  • A retirement income account set up for church employees. Generally, retirement income accounts can invest in either annuities or mutual funds.

What are the benefits of contributing to a 403(b) plan?

There are two benefits to contributing to a 403(b) plan.

  • The first benefit is that you do not pay income tax on allowable contributions until you begin making withdrawals from the plan, usually after you retire. Allowable contributions to a 403(b) plan are either excluded or deducted from your income.
  • The second benefit is that earnings and gains on amounts in your 403(b) account are not taxed until you withdraw them.

Use the Retirement Financial Calculator To find out how much you need to retire.

Watch these Helpful Videos To learn more about savings !!