A 403(b) can become one of your key retirement savings vehicles. It can help you supplement your pension dollars with another source of retirement income. With so many pension plans on shaky ground these days, it is a good idea to have an alternative source for retirement funds – a retirement account that could grow very large over time thanks to compounding and tax deferral.
A 403(b) is the equivalent of a 401(k) for non-profit employees. You can contribute just as much toward retirement annually as you can with a 401(k) – the 2015 contribution limit is $17,500, and if you are 50 or older (or turn 50) in 2015, your annual contribution limit is $23,000. You can invest 403(b) funds across a variety of financial vehicles.1
Many educators and non-profit employees eventually find they need more retirement money than they first thought. Those who start and fund 403(b) accounts leave their careers with an alternative besides their pension.
You can fund a 403(b) through regular contributions that fit into your monthly budget. It doesn’t take much to enroll, and it could be one of the wisest moves you make as you plan for retirement. Get started by meeting with a TCU Investment Services Representative today!
TCU Investment Services knows the importance of a secure retirement and a bright financial future. If you have a 403(b) plan with us, you can follow the links and manage your account online:
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