This is an optional retirement Plan that allows employees to save money for retirement on a pre-tax basis. A 403b plan operates similar to a 401k plan with guidelines established by the IRS.
How does it work?
Through payroll deduction, pre-tax dollars are invested in the account(s) of your choice with our approved vendors. This pre-tax deduction reduces your current taxable income so less federal and state taxes are withheld from your pay. Your investment earnings accumulate and grow also on a tax-deferred basis and you pay no tax until you begin withdrawing the funds. This is a retirement Plan and funds are intended to remain deposited until you retire, however, loans or hardship distributions may be possible. Please see the Plan document at the link below for more details.
How do I meet with an approved vendor?
You may contact the representative from the information below; AXA, Mass Mutual, and TIAA are the three approved vendors in the Plan. Emails are also sent to campus to announce their upcoming scheduled visits so you can meet with them on campus.
What are the limits?
The 2016 and 2017 403b annual deduction limit is $18,000 for employees under age 50 and $24,000 for employees age 50 and older.
PRIOR SUPPLEMENTAL RETIREMENT PLAN VENDORS (403b) (click on this link to see a list of previous vendor contacts in the Plan)
Please contact the representatives listed below for prospectuses and necessary forms.
Ryan A. Brown, CFP®
Evergreen Wealth Strategies
807 West Highway 50, Suite 6
O'Fallon, IL 62269
AXA Group Variable Annuity Investment Portfolio Expenses Chart
AXA Group Variable Annuity Investment Flyer
AXA Group Variable Annuity Fact Card
AXA Group Variable Annuity Brochure
Teachers Insurance & Annuity Association (TIAA-CREF)
Melvin L. Ballenger
Financial Consultant|Field Consulting Group
4625 Lindell Blvd, Suite 501
St. Louis, MO 63108
Roth Contributions (403b)
Your Guide to Tax Deferred Annuities