Section 457 Plans What is a Section 457 Plan? Criteria for Choosing a Section 457 Plan Vendor

Size: px
Start display at page:

Download "Section 457 Plans What is a Section 457 Plan? Criteria for Choosing a Section 457 Plan Vendor"

Transcription

1 Section 457 Plans What is a Section 457 Plan? Criteria for Choosing a Section 457 Plan Vendor Publication 916 CSEA CalPERS TASK FORCE AFL-CIO California School Employees Association Our mission: To improve the lives of our members, students and community. January 2017

2

3 The CSEA Member Benefit Committee developed the attached Module, which contrasts the differences between a Section 457 deferred compensation plan and a Section 403(b) plan. The Module provides good investment guidelines for individuals, as well as brief characteristics of several companies, including CalPERS, who offers Section 457 plans. If your district does not currently offer a Section 457 plan, your chapter may want to bargain to have such a plan offered on a voluntary payroll deduction basis. It is important to note that this is an area of potential abuse by vendors contacting school districts to sell different types of investment options, including 403(b) accounts. As a result of risky mis-information, there was a piece of legislation introduced to produce consumer education for school employees. The end result was a website developed to offer free objective information about retirement investment options, vendors and the products they offer. The website ( was created to help employees of California s local school districts, community college districts or county offices of education make better informed investment decisions by offering such valuable information. Once the IRS issues its final regulations, the Insurance Committee will issue appropriate supplementary information via subsequent bulletins. California School Employees Association 2045 Lundy Avenue San Jose, CA (408) (800) i

4 ii

5 Table of Contents Changes with EGTRRA Making an Informed Section 457 Plan Decision What is a Section 457 Plan?....3 How a Section 457 Plan Works...3 How a Section 457 Plan Differs from a 403(b) Plan...5 Choosing a Section 457 Plan Vendor....6 Before You Invest....6 Section 457 Plan Vendor Highlights....8 Staying in the Plan After You Retire...10 Fund Trading Restrictions This brochure provides an overview of a Section 457 deferred compensation plan. To be eligible for participation, this type of plan must be collectively bargained with your district, and the official plan document will control the actual benefits offered to you. Before participating in a Section 457 plan, you should carefully review the terms of the plan and consider each vendor s investment instruments, including its objectives, risks, and fees and expenses. Please contact the CSEA if you have questions about the information provided in this brochure. iii

6 iv

7 Changes with EGTRRA 2001 The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) made a number of changes in how governmental 457 plans are treated, the most notable of which is that the coordination of benefits limitation was removed. This allows a person whose employer has a 401(k) or 403(b) and a 457 to defer the maximum contribution amounts to both plans instead of coordinating the total and only being able to meet a single limit amount. Thus a participant can contribute the maximum $16,500 for 2009 into their 401(k) and also the maximum $16,500 into their 457 plan. If that person s age is at least 50 at the end of the current tax year, they can contribute the additional catch up mount into each plan also, meaning an additional $5,500 into the 401(k) and another $5,500 into their governmental 457 (catch-up contributions are not provided for non-governmental 457 plans). The total would then be $44,000 deferred instead of the $22,000 that would have been allowed if the coordination of benefits provision had not been repealed in regard to the governmental 457 plan. As a result, many governmental employers have now set up 457 and 401(k) plans for their employees, and non-profit employers have set up 403(b) and 457 plans each allowing their employees to invest in both. Some state universities and school districts have access to all three tax-deferred plans. However, the total combined annual contribution to 401(k) and 403(b) plans is subject to the $16,500 limit and the $5,500 catch-up limit. Other notable changes made in the EGTRRA legislation were increasing the maximum deferral amount from the approximately $8,500 that was previously allowed to the same maximum elective deferral amount that 401(k) plans and now 403(b) plans allow, and easing restrictions on some plan rollovers. Governmental 457 plans may be rolled into other types of retirement plans with few restrictions beyond the normal ones for any other type of employer provided plan, which includes separation of service or disability. This includes other 401(k) and 403(b) plans and also IRA s. IRA s have much greater flexibility in withdrawal and conversion privileges. In contrast, non-governmental 457 plans can only be rolled into another non-governmental 457 plan. CATCH UP PROVISIONS The 457 plan allows for two types of catch-up provisions. The first is similar to other defined contribution plans and amounts to an additional $5,500 that can be contributed as noted above. This option for making catch-up contributions is only available under governmental 457 plans. The second option is much more complicated and is available under both governmental and non-governmental plans. It can be elected by an employee who is within 3 years of normal retirement age (and perhaps eligible retirement at any age). This second catch-up option is equal to the full employee deferral limit or another $16,500 for Thus, a person over 50 within 3 years of retirement and who has both a 457 and a 401(k) could defer a total of $52,500 into their retirement plans by utilizing all of their catch-up provisions. The second type of catch-up provision is limited to unused deferral limits from previous years. An employee that had deferred the maximum amount of money into the 457 plan every year they were employed previously would not be able to utilize this extra catch-up. External links and references IRS website page regarding 457 plans ( 403(b) and 457 Plan Feature Comparison Chart (8pp pdf file) ( IRS 403(b)/457 Online Resource Guide ( IRS Section 457 plan outline (28pp pdf file) ( Section 457 of the IRS code ( sec_26_ html) -From Cornell Law School 1

8 2

9 Making an Informed Section 457 Plan Decision Whether you plan to spend time with family and friends, start a new career, travel, or pursue a hobby, it s up to you how to spend your retirement years. But, saving for that phase of your life retirement takes time and planning. A Section 457 plan can help. With a Section 457 plan, you have the flexibility to create a customized retirement program that reflects your personal and financial goals. WHAT IS A SECTION 457 PLAN? A Section 457 plan is a tax-deferred compensation plan that works very much like other tax-favored retirement plans, such as a 403(b) or 401(k). The name refers to Section [457] in the Internal Revenue Code, which governs the plan. State and local government employers and tax-exempt entities may sponsor a Section 457 plan for their employees. Why contribute to a Section 457 Plan? 1. Save for your retirement. 2. Reduce your taxable income. 3. Your contributions and earnings grow on a taxdeferred basis. 4. The IRS allows you to contribute to both a 403(b) plan AND a 457(b) plan. 5. Your account balance is portable. HOW A SECTION 457 PLAN WORKS A Section 457 plan offers its participants the opportunity to set aside and accumulate tax-deferred dollars for retirement. Here s how it works: Section 457 Plan Contributions: Under the plan, you may decide how much money to defer from your pay check to the plan (up to the plan s maximum). These voluntary contributions are exempt from federal income tax, which in effect, reduces the participant s taxable income. Section 457 Plan Investments: A participant s contributions are directed to the Section 457 plan vendor working with your school district. Your district may offer more than one Section 457 vendor. Based on the vendor chosen, a school employee may invest contributions in that vendor s investment vehicles. Contributions (including investment earnings, if any) grow on a tax-deferred basis until withdrawal. Section 457 Plan Distributions: Distributions from the plan are taxed as ordinary income when withdrawn. You may receive a distribution from the plan at retirement, in the event of an extreme financial hardship or unforeseeable emergency, or upon termination you re your employer. Section 457 Plan Portability: The account balance in a Section 457 plan is portable. This means you can move savings with you if you change employers. You can roll over this balance into a new employer s Section 457 plan, 403(b), or 401(k) plan (if the plan accepts rollovers) or into an IRA. 3

10 4

11 How a Section 457 Plan Differs from a 403(b) Plan Section 457 and 403(b) plans share many of the same features and have some differences, as well. The chart below provides a comparison of the two types of plans. Your 2012 contribution opportunities If you contribute the maximum basic salary deferral limit, and you qualify for the Double Limit Catch Up provision described below, you have the potential to contribute up to $34,000 to your 457(b) plan in Basic annual limit: $17,000 or 100% of compensation, whichever is less. The IRS increases this limit by $500 each year. Section 457 and 403(b) Plan Comparison Section 457 Plan 403(b) Plan Contribution limits A participant may contribute up to $18,000 for 2017, the IRS increases this limit by $500 each year. Age 50 and over catch-up provisions A participant age 50 or older may be able to make additional contributions to the plan. For 2017, this amount is $6,000. Alternatively, a participant may be able to contribute an additional amount (up to $30,000 in 2006) if he did not maximize contributions to the plan in prior years. Age 50+ Catch-up: If you are age 50 or over and participate in a government 457(b) plan, you may be eligible to contribute an additional $6,000 in Rollovers into the Plan Generally, a participant may roll over his account balance from 401(a) plans, 401(k) plans, Section 457 plans, and 403(b) plans, as allowed by an employer and/or the plans vendors. Distributions while employed Generally, a participant may roll over his account balance from 401(a) plans, 401(k) plans, Section 457 plans, and 403(b) plans, as allowed by an employer and/or the plans vendors. A participant may take an in-service distribution if are age 59½ or older; if permanently disabled; or in the event of an extreme financial hardship. Distributions after separating from employment Federal and state income tax treatment Upon separation from an employer, a participant can: Leave his money in the Plan, when allowed by an employer or plan vendor Take a lump- sum distribution Arrange a rollover of funds into an eligible plan or IRA Arrange for other forms of payment, as offered under the plan. Section 457 plan distributions are subject to ordinary income tax when paid, unless rolled over into an eligible retirement plan or IRA. When tax penalties apply on early distributions A participant is not subject to early distribution penalties, except for amounts attributable to rollovers into the Section 457 plan from an employer s 403(b), 401(a), or 401(k) plan. In most cases, a 10% federal tax penalty applies for distributions before age 59½. State tax penalties or penalties on money rolled over from another tax-deferred plan, may also apply. Minimum required distributions A participant is required to take a minimum distribution no later than April 1 following the year in which he turns age 70½, unless still employed. A 50% tax penalty applies if minimum required distributions do not occur. 5

12 Double Limit Catch Up: If you have under contributed to your 457(b) plan in the past, and you are within three calendar years of your normal retirement age, you have the potential to contribute up to an additional $17,000 in You should also keep in mind that any contributions you make to a 403(b) plan, 401(k) plan, or other Workplace Savings Plan in 2012 do not reduce the amount you may contribute to your 457(b) plan. Unlike with 401(k)s and 403(b) s, the IRS won t slap you with a penalty on withdrawals you make before the age 59 1/2. You will, however, owe income tax on all withdrawals, regardless of your age. Going into a 457 plan early still isn t a good idea. Leaving the money to compound until you re ready to retire will leave you with a much bigger nest egg. CHOOSING A 457 PLAN VENDOR Most Section 457 plans offer a choice of several vendors through which they manage their accounts and invest their contribution dollars. American Fidelity Assurance Company CalPERS Can an employee contribute to both a Section 457 and a 403(b) plan? Under the rules established by the Economic Growth and Tax-Relief Reconciliation Act of 2001 (EGTRRA), participants are allowed to contribute the maximum elective deferral limit to both a Section 457 plan and a 403(b) plan. For 2017, this is $18,000 or 100% of your includible compensation to a 457(b) plan. Participation eligible for catch-up provisions can defer even more. CSEA does not sponsor or endorse any Section 457 vendor. The Insurance Committee shows vendors who have a presence with CSEA. If you think one of these vendors meets the needs of the CSEA members in your Chapter, you should let the Bargaining Committee, or Employer/Employee Insurance Committee know that you would like to have a particular vendor interviewed. To help you make an informed choice, the attached vendor highlight sheets outline some criteria to consider in choosing a Section 457 plan vendor. Note: The CSEA cannot recommend a specific vendor. You may want to consult a financial planner or investment advisor to help you decide. BEFORE YOU INVEST To select a vendor that best fits your needs, there are various things to consider including the vendor s: Background and history Investment choices Historic rates of return on participant investments Fees and expenses There is no shortage of advice and analyses comparing tax deferred annuities to other ways to save for retirement. It s on the internet, in the paper, on TV, and in investment magazines and publications. Don t let this information distract you from your basic goal of protecting yourself against coming up short of income at retirement. 6

13 Minimum service expectations should include toll free service numbers and clear, concise participant statements showing principal expenses and investment earnings. Retirement planning or consulting services would be an added value, especially for those who do not have a great deal of expertise in financial matters. Each vendor offers an array of investment options to choose from, many of which are mutual funds. (A mutual fund pools money from many investors and invests the money in stocks, bonds, short-term money market instruments, or other securities.) You will choose how to invest your contributions, based on your personal investment strategy. Keep these basic investment guidelines in mind: Think about your tolerance for risk. Can you handle fluctuations in your investment earnings or do you need a more stable and predictable return? To determine whether an investment vehicle is suitable for your retirement plan, review its prospectus to see how the fund intends to invest, learn what types of securities they ll be investing in, and understand what risks may be involved. Investment objectives should be consistent with the long-term requirements of your retirement assets. Consider the length of time you have to invest your contributions. You might choose more aggressive investments if you have 20+ years until you retire; alternatively, as you get closer to retirement you may want to shift your investments into more conservative instruments. Remember the saying, Don t put all of your eggs in one basket. Be sure to diversify your investments selections among a plan vendor s various asset classes. Diversification, asset allocation, or spreading your funds over a range of investments, is one strategy to significantly reduce all kinds of risk. You can diversify in a number of ways. You might invest in several different types of funds. Or, you can choose funds that are diversified within themselves, such as those holding a wide range of stocks and bonds. Only you can make the decision about which vendor and which investment options best meet your investment strategy. Be sure to ask questions and read the prospectus for the investment option(s) you are considering. It is your responsibility to determine the investments that make sense for you! 7

14 AMERICAN FIDELITY ASSURANCE COMPANY Company Background American Fidelity Assurance Company was established in They currently: Have more than 1,500 employees. Provide products and services to more than 600 school districts in California and more than 3,000 nationally. Are licensed to do business in 49 states and the District of Columbia Provide service for 2, (b) retirement plans and 139 Section 457 plans. American Fidelity s field staff is trained to offer educational meetings on annuities, which include fixed and variable annuities. All field staff are licensed with Series 6 and Series 63 Securities License. Plan Assets Investment Options And Fees American Fidelity Assurance Company has approximately $312.2 million of separate account assets under management. A wide range of investment choices and options are offered. Administrative fees/sales charges include: Sales charges: None Front-end loads: None Back-end loads: Policy years 1-5: 8% Policy years 6-10: 4% Policy years 11+: 0% 12-b 1 fees: None Redemption fees: None Purchase fees: None Exchange fees: None Account fees: American Fidelity Separate Account Annual Expenses: 1.50% Management fees: Please refer to Annual Portfolio Operating Expenses. Other expenses and fees: None Total fund expense ratio: Please refer to Annual Portfolio Operating Expenses. After one year of participation, there are no American Fidelity Group Variable Annuity charges for plan benefit withdrawals paid to the participant or the participant s beneficiary. This waiver applies to withdrawals for the following benefits: Retirement, separation from service, and for certain unforeseen emergencies. Member Service Acceptance of Rollovers/ Transfers Members can review their account information online or by phone. Planning and modeling tools are available by contacting local representatives. Home office representatives are available from 8 a.m. to 5 p.m. CT, and field representatives are available 8 a.m. to 5 p.m. PST. American Fidelity allows direct transfers from other Section 457 accounts. Rollovers from other plans such as 403(b) and 401(k) are not allowed. 8

15 AMERICAN FIDELITY ASSURANCE COMPANY Payout/Distribution Options The following payout options are available: Lifetime Only Annuity: Monthly payments during the life of the annuitant. If this option is elected, payments will cease immediately upon the death of the annuitant and payments will end. Lifetime Annuity with Guaranteed Period: Monthly payments for the guaranteed period selected and thereafter for the life of the annuitant. Upon the death of the annuitant, any amounts remaining under the guaranteed period selected will be distributed to the beneficiary at least as rapidly as under the method of distribution being used as of the date of the annuitant s death. The guaranteed period may be 10 years or 20 years. Joint and Survivor Annuity: Monthly payments during the joint lifetime of the annuitant and a joint annuitant. Payments will continue during the lifetime of the surviving annuitant and will be computed based on 100%, 66 2/3%, or 50% of the annuity payment in effect during the joint lifetime. Period Certain: Monthly payments for a specified period at least five years but not more than 30 years. For pre-retirement withdrawals, you must meet one of the distribution qualifications in the IRC Code Section 457 to be eligible for a distribution from the account. Plan Trustee As allowed by Internal Revenue Code an annuity contract takes the place of an actual trust agreement. Therefore, a trust or trustee does not govern this plan. American Fidelity acts as the fund provider and assumer some of the plan s administrative services. 9

16 CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM (CALPERS) ING CalPERS Provider Company Background Plan Assets Investment Options And Fees The California Public Employees Retirement System (CalPERS) is a tax-exempt state government agency, created specifically to administer retirement plans for public employees. CalPERS has administered defined benefit pension plans for state, local agency, and school employees for over 70 years. As a public retirement trust, CalPERS is not subject to acquisition, merger or bankruptcy. It is not an insurance company, mutual fund or commercial vendor, and they own no subsidiaries, limited liability companies, or affiliate lines of business. CalPERS is a non-profit organization. Over 500 agencies contract for the CalPERS 457 Program, and over 107 school and community college districts and 14 county offices of education offer the CalPERS 457 Program to their employees. CalPERS manages over $500 million in assets. A wide range of investment choices and options are offered. Administrative fees/sales charges include: Sales charges: None Front-end loads: None Back-end loads: None 12 b 1 fees: None Redemption fees: None Purchase fees: None Exchange fees: None Account fees: None Management fees: Vary by investment option; Other expenses and fees: There is a $50 annual account maintenance fee for maintaining a Self Managed Account and a one-time $50 loan origination fee for taking a loan Total fund expense ratio: Total fees, including investment management and administration are less than 1%. The average weighted cost per participant is. 64% per year. 10

17 STAYING IN THE PLAN AFTER YOU RETIRE The Plan is designed to help you save while you are working and supplement income when you retire. You can stay in the Plan after you retire. If you are not ready to make a decision, take your time- there s no immediate deadline. The law does not require you being taking Required Minimum Distributions (RMDs) from your retirement accounts by April 1 after the calendar year when you reach age 70 1/2 or quit working, whichever happens later. Keeping your retirement assets in the Plan provides several advantages: A wide choice of investment options so you can maintain your current portfolio or make adjustments as your personal situation or risk tolerance changes. Convenient 24/7 account management, plus access to information about the Plan, your account, and investment tools and education anytime, either online or by phone. A variety of flexible payout options when you are ready to withdraw your money. Personal assistance with your Plan account and payout choices from a CalPERS 457 Plan Account Manager. Whether you are close to retiring or already retired, consider meeting with a CalPERS 457 Plan Account Manager to review your account. You may want to talk with a tax or financial adviser before making financial decisions. FUND TRADING RESTRICTIONS CalPERS has a frequent trading policy to help protect the interests of CalPERS Supplemental Income 457 Plan participants. The policy is intended to prevent excessive short-term or disruptive trading in funds. Multiple round-trip trades into and out of a fund are subject to restrictions. Frequent trading drives up fund costs and potentially reduces fund performance. To view the policy, go to policies/other/home.xml. 457 Distributions are Flexible Stay with CalPERS in retirement No early withdrawal penalties Distribution options Monthly, quarterly, semi-annually Randomly, at-will Distributions are taxed as ordinary income when received 457 Portability Rollovers between 457, 401(k), 403(b) and IRA Consolidation into CalPERS 457 Distributions/rollovers out of 457 are subject to the receiving qualified plan s rules Purchase pension plans service credit 11

18 Member Service CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM (CALPERS) ING CalPERS provider The CalPERS 457 Plan s interactive voice response system is available 24 hours a day, seven days a week. Consumer service representative are available 6 a.m. to 5 p.m. PST, Monday through Friday. The CalPERS 457 Plan s voice response system offers both English and Spanish. Live representatives are available for other languages and a TDD service ( ) is available for the hearing impaired. Participations have daily access to their account information by using either the Web site or the toll-free voice response system ( ). Through the Web site, ingplans.com, participants can access extensive account, plan, and investment information. In addition to mailing quarterly statements, we offer an online statement capability to give participants timely and easy access to their retirement plan information. The Web site provides a complete menu of educational materials. CalPERS has developed a comprehensive, education-based financial planning and benefit counseling process. The Web site provides a full range of calculators that enable participants to model tax savings and project savings rates under different assumptions. In addition, participants can download plan account information to either of two popular personal financial management software packages, Quicken or Microsoft Money. Acceptance of Rollovers/ Transfers The CalPERS 457 Plan accepts rollovers from all eligible plans including 401(k) and 403(b) plans and IRAs. The plan allows in-service distributions in the event of an unforeseeable emergency. The CalPERS 457 Plan also permits in-service withdrawals of accounts less than $5,000 if the participant has not made contributions to the account in the preceding two years. The CalPERS 457 Plan freely permits in-service withdrawals to purchase pension plan service credit from CalPERS and CalSTRS. Payout/Distribution Options Plan Trustee The Following payout options are available through CalPERS: Lump sum payment Installment payments in any amount or over any time period Partial lump- sum and installment payments Installment payments with cost of living adjustments (COLA) automatically built in Rollover to an IRA or to a new employer s Section 457, 401(k), 403(b) or 401(a) plan CalPERS is the Trustee of the CalPERS 457 Plan. The Public Employees Deferred Compensation Fund administered by CalPERS is a constitutional and statutory retirement trust. As trustee of the fund, the CalPERS Board has exclusive fiduciary responsibility over assets in the Public Employees Deferred Compensation Fund, and they duty to administer the fund for the exclusive benefit of participants in a manner assuring delivery of benefits and services at reasonable cost. As part of its fiduciary oversight, the Board meets monthly at a reasonable cost. As part of its fiduciary oversight, the Board meets monthly to review fund performance, review and decide asset allocation, review administrative services, review accounting practices and procedures, and review federal and state legislation affecting trust interests. CSEA has too many members who are elected to the CalPERS Board. 12

Highlights of The Tax-Sheltered Annuity Program. The California State University

Highlights of The Tax-Sheltered Annuity Program. The California State University Highlights of The Tax-Sheltered Annuity Program The California State University Tax-Sheltered Annuity Program TABLE OF CONTENTS TSA Program Overview... 1 Saving Through the TSA Program... 2 Making Investment

More information

403(b) Tax Deferred Annuity Plan. Saving for the future you want

403(b) Tax Deferred Annuity Plan. Saving for the future you want 403(b) Tax Deferred Annuity Plan Saving for the future you want Many retirement experts agree...having the money you want in your later years comes from careful planning now. Important information: Variable

More information

457(b) Deferred Compensation. Overview for Governmental and Public School entities

457(b) Deferred Compensation. Overview for Governmental and Public School entities 457(b) Deferred Compensation Overview for Governmental and Public School entities Retirement experts agree...having the money you want in your later years requires careful planning now. Plan ahead. To

More information

457(b) Deferred Compensation Overview for Governmental and Public School entities

457(b) Deferred Compensation Overview for Governmental and Public School entities 457(b) Deferred Compensation Overview for Governmental and Public School entities Retirement experts agree... having the money you want in your later years requires careful planning now. Plan ahead. To

More information

Summary Plan Description Devon Energy Corporation Incentive Savings Plan

Summary Plan Description Devon Energy Corporation Incentive Savings Plan Summary Plan Description Devon Energy Corporation Incentive Savings Plan This document constitutes part of a prospectus covering securities that have been registered under the Securities Act of 1933. Devon

More information

Retirement Benefits Summary

Retirement Benefits Summary Retirement Benefits Summary Your Retirement Benefits Program Broward Health is proud to offer a competitive retirement benefits program to eligible employees that consists of the following plans. Eligibility

More information

Variable Annuity. Variable Product Series. Building your future with a secure partner. Kansas City Life Insurance Company

Variable Annuity. Variable Product Series. Building your future with a secure partner. Kansas City Life Insurance Company Variable Annuity Variable Product Series Building your future with a secure partner Kansas City Life Insurance Company Variable Annuity Features at a Glance Minimum Deposit $5,000 minimum single deposit

More information

401(k) PLAN FOR YOUR FUTURE. The Investment Advantage

401(k) PLAN FOR YOUR FUTURE. The Investment Advantage Payroll HR Admin & Compliance 401(k) & Employee Benefits Tax Filing & Credits Time & Labor Solutions 401(k) PLAN FOR YOUR FUTURE The Investment Advantage Congratulations! You are eligible to participate

More information

Retirement Savings Plan 401(k)

Retirement Savings Plan 401(k) Retirement Savings Plan 401(k) Retirement Savings Plan 401(k) Advocate Health Care Network offers the Advocate Health Care Network Retirement Savings Plan 401(k) ( 401(k) Plan or Plan ) as part of its

More information

Prudential ANNUITIES ANNUITIES UNDERSTANDING. Issued by Pruco Life Insurance Company and by Pruco Life Insurance Company of New Jersey.

Prudential ANNUITIES ANNUITIES UNDERSTANDING. Issued by Pruco Life Insurance Company and by Pruco Life Insurance Company of New Jersey. Prudential ANNUITIES UNDERSTANDING ANNUITIES Issued by Pruco Life Insurance Company and by Pruco Life Insurance Company of New Jersey. 0160994-00008-00 Ed. 05/2017 Meeting the challenges of retirement

More information

Invest now to help make your retirement dreams a reality

Invest now to help make your retirement dreams a reality Invest now to help make your retirement dreams a reality What s inside The sooner you start, the better off you ll be... 1 Chart your path to a comfortable retirement.... 2 Why Vanguard?... 5 Choose the

More information

NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN

NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN NORTHERN CALIFORNIA CARPENTERS 401(k) PLAN ANNOUNCING THE NEWLY ESTABLISHED NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN IMPORTANT INFORMATION IRS SAFE HARBOR PLAN NOTICE NORTHERN CALIFORNIA CARPENTERS 401(K)

More information

A GUIDE TO PREPARING FOR RETIREMENT

A GUIDE TO PREPARING FOR RETIREMENT A GUIDE TO PREPARING FOR RETIREMENT MaineSaves A Guide to Preparing for Retirement MaineSaves, the State of Maine s voluntary retirement savings plan, is designed to help you move forward on your journey

More information

457(b) Deferred Compensation

457(b) Deferred Compensation 457(b) Deferred Compensation Overview for Governmental and Public School entities Your future. Made easier. SM Retirement experts agree...having the money you want in your later years requires careful

More information

Earning for Today and Saving for Tomorrow. Retirement Savings Plan 401(k) inspiring possibilities

Earning for Today and Saving for Tomorrow. Retirement Savings Plan 401(k) inspiring possibilities Earning for Today and Saving for Tomorrow Retirement Savings Plan 401(k) inspiring possibilities Retirement Savings Plan 401(k) Advocate Health Care Network offers the Advocate Health Care Network Retirement

More information

Distribution options summary

Distribution options summary Distribution options summary For Governmental 457(b) Deferred Compensation Plans (for pre-tax deferral only) The Voya family of companies is committed to providing you with the information you need to

More information

My retirement, March 18 April 15, Explore Compare Choose. Retirement Choice Decision Guide For Johns Hopkins University Support Staff

My retirement, March 18 April 15, Explore Compare Choose. Retirement Choice Decision Guide For Johns Hopkins University Support Staff My retirement, Retirement Choice Decision Guide For Johns Hopkins University Support Staff March 18 April 15, 2011 Explore Compare Choose You need to make an important decision regarding your retirement

More information

The Roth contribution option. For retirement plans

The Roth contribution option. For retirement plans The Roth contribution option For retirement plans Contents 2 The Roth contribution option savings choice Learn about the differences between pretax and after-tax contributions 4 Comparing Roth after-tax

More information

smart Distribution Options Massachusetts Deferred Compensation SMART Plan PARTICIPATE Office of the State Treasurer and Receiver General

smart Distribution Options Massachusetts Deferred Compensation SMART Plan PARTICIPATE Office of the State Treasurer and Receiver General smart S A V E M O N E Y A N D R E T I R E T O M O R R O W PARTICIPATE Distribution Options Massachusetts Deferred Compensation SMART Plan Office of the State Treasurer and Receiver General Live Your Dreams

More information

A Consumer s Guide to

A Consumer s Guide to A Consumer s Guide to 401(k) Plans NYSUT Member Benefits wants NYSUT members to be the best-informed consumers in the state. This Consumer Guide is one of our contributions towards achieving that goal.

More information

Franklin Templeton IRA

Franklin Templeton IRA Investor s Guide Franklin Templeton IRA Traditional IRA Roth IRA Whether you are just starting to save or entering retirement, an IRA can be an important part of a sound financial strategy to meet your

More information

Special An Official Communication from the UFA #3 of 2009 January 8th. Deferred Compensation Plan (457 & 401k) TABLE OF CONTENTS

Special An Official Communication from the UFA #3 of 2009 January 8th. Deferred Compensation Plan (457 & 401k) TABLE OF CONTENTS Special 65-2 An Official Communication from the UFA #3 of 2009 January 8th The Bravest NYC Firefighters IAFF Local 94 AFL-CIO Deferred Compensation Plan (457 & 401k) Topics TABLE OF CONTENTS Pages 1. What

More information

YOUR GUIDE TO GETTING STARTED

YOUR GUIDE TO GETTING STARTED Virginia Mason Medical Center 401(a) Retirement Plan and VMMC 403(b) Retirement Savings Plan Pursue your retirement goals today, with help from the Virginia Mason Medical Center 401(a) Retirement Plan

More information

The 401(k) Stock Purchase Plan Summary Plan Description

The 401(k) Stock Purchase Plan Summary Plan Description The 401(k) Stock Purchase Plan Summary Plan Description Cullen/Frost Bankers, Inc. Plan Year 2014 This material constitutes part of a prospectus covering securities that have been registered under the

More information

403(b) PLAN. Employee Guidebook. Welcome Building retirement savings Options for investing You have control Open your account CONTENTS

403(b) PLAN. Employee Guidebook. Welcome Building retirement savings Options for investing You have control Open your account CONTENTS 403(b) PLAN CONTENTS Employee Guidebook WELCOME. One of the main reasons your employer chose T. Rowe Price as an investment provider for your 403(b) plan is because we ve established a reputation for competitive

More information

Retirement Guide: Saving and Planning

Retirement Guide: Saving and Planning Retirement Guide: Saving and Planning It s Never Too Early to Start What You Need to Know About Saving for Retirement Many of us don t realize how much time we may spend in retirement. In fact, statistics

More information

Living today while planning for tomorrow. UTC Employee Savings Plan Enrollment Guide TOTAL REWARDS

Living today while planning for tomorrow. UTC Employee Savings Plan Enrollment Guide TOTAL REWARDS Living today while planning for tomorrow 2018 UTC Employee Savings Plan Enrollment Guide TOTAL REWARDS WHAT S INSIDE Why Save Now?...3 Steps To Getting Started STEP 1: Decide How Much To Save...4 STEP

More information

403(b) & 457 Plans and Services

403(b) & 457 Plans and Services 403(b) & 457 Plans and Services Who We Are: Midwest Capital Advisors, LLC is an independent, Grand Rapids-headquartered, SEC-registered investment adviser. After a rigorous evaluation process, MCA was

More information

Annuity Plan Highlights

Annuity Plan Highlights Annuity Plan R 1 Annuity Plan Highlights When you are ready to retire, your account balance can add to your retirement income. Here are some key features of the annuity plan. Eligibility Automatic Participation

More information

Your DePaul University 403(b) Retirement Plan ENROLLMENT GUIDE

Your DePaul University 403(b) Retirement Plan ENROLLMENT GUIDE Your DePaul University 403(b) Retirement Plan ENROLLMENT GUIDE Invest some of what you earn today for what you plan to accomplish tomorrow. Dear DePaul University 403(b) Retirement Plan employee: It s

More information

Roth After-Tax Features

Roth After-Tax Features Roth After-Tax Features A New Way to Save for Your Future For the following employees: Eligible active salaried and non-union, non-exempt employees, and executives participating in the Kaiser Permanente

More information

VOLT TECHNICAL SERVICES SAVINGS PLAN SUMMARY PLAN DESCRIPTION. VOLT INFORMATION SCIENCES, INC. (the Sponsor )

VOLT TECHNICAL SERVICES SAVINGS PLAN SUMMARY PLAN DESCRIPTION. VOLT INFORMATION SCIENCES, INC. (the Sponsor ) VOLT TECHNICAL SERVICES SAVINGS PLAN SUMMARY PLAN DESCRIPTION VOLT INFORMATION SCIENCES, INC. (the Sponsor ) Effective as of July, 2014 SUMMARY PLAN DESCRIPTION PLAN HIGHLIGHTS Saving for your future is

More information

Helping you recruit, reward and retain the best people

Helping you recruit, reward and retain the best people The Nationwide Corporate Incentive Program Plan sponsor guide Helping you recruit, reward and retain the best people NATIONWIDE BUSINESS SOLUTIONS GROUP In this guide, Nationwide assumes that the employer

More information

Program Summary. Kentucky Deferred Compensation

Program Summary. Kentucky Deferred Compensation Kentucky Deferred Compensation Program Summary Summary of the benefits and features of the Kentucky Public Employees Deferred Compensation Authority Plans Table of Contents Why joining is smart... 2 What

More information

Rollovers from Employer-Sponsored Retirement Plans

Rollovers from Employer-Sponsored Retirement Plans Law Office Of Keith R. Miles, LLC Keith Miles Attorney-at-Law 2250 Oak Road PO Box 430 Snellville, GA 30078 678-666-0618 keithmiles@timetoestateplan.com www.timetoestateplan.com Rollovers from Employer-Sponsored

More information

Retirement Matters: Distributions from Retirement Plans. Slide 1

Retirement Matters: Distributions from Retirement Plans. Slide 1 Slide 1 If you re like many Americans, you ve been setting aside money for your retirement. Now that you re nearing retirement age, it may soon be time to start drawing money from your qualified retirement

More information

MAXIMIZE YOUR SAVINGS

MAXIMIZE YOUR SAVINGS MAXIMIZE YOUR SAVINGS In the Lam Research 401(k) Plan and Other Plans WHAT S INCLUDED Click directly on the section to the right to move to that section. >> Increased Savings and Tax Flexibility Build

More information

Affinity Variable Annuity

Affinity Variable Annuity Affinity Variable Annuity Variable Product Series Building your future with a secure partner Kansas City Life Insurance Company Affinity Variable Annuity Features at a Glance Minimum Deposit Guaranteed

More information

Your life. Your future. Your options.

Your life. Your future. Your options. Your life. Your future. Your options. Whether by chance or by choice, you have options. Explore them with Empower Retirement. Corporate Retirement Plan Participant Brochure You want to retire someday or

More information

The PERAPlus 457 Plan is a voluntary retirement benefit plan that offers you one of the best opportunities to save for your retirement.

The PERAPlus 457 Plan is a voluntary retirement benefit plan that offers you one of the best opportunities to save for your retirement. You have a plan. Eligibility All employees working for an employer who has affiliated with the PERAPlus 457 Plan and retirees who have returned to work for PERAPlus 457-affiliated employers, are immediately

More information

Individual Retirement Accounts Roth & Traditional. IRAs Guidebook

Individual Retirement Accounts Roth & Traditional. IRAs Guidebook Individual Retirement Accounts Roth & Traditional IRAs Guidebook 2016 IRA Roth & Traditional Individual Retirement Accounts At-a-Glance Eligibility Contents IRAs At-a-Glance... 1 Roth IRA... 2... 3 Roth

More information

Advantage IV Variable Annuity

Advantage IV Variable Annuity Advantage IV Variable Annuity IT S ALWAYS THE RIGHT TIME It s never too late to get where you want to go When you begin saving for retirement at the beginning of your career, you re giving yourself the

More information

City of San José Deferred Compensation Plan Overview D EF ER R ED C OMPE NSATION PLAN PLAN SAVE GROW

City of San José Deferred Compensation Plan Overview D EF ER R ED C OMPE NSATION PLAN PLAN SAVE GROW www.voyaretirementplans.com/custom/sanjose City of San José Deferred Compensation Plan Overview D EF ER R ED C OMPE NSATION PLAN PLAN SAVE GROW You should consider the investment objectives, risks, and

More information

Living in Retirement Guide

Living in Retirement Guide Living in Retirement Guide With the right ongoing planning, living in retirement can be a comfortable time of financial independence. 1-866-951-9511 regions.com Expect more in your retirement Your working

More information

Human Resources Benefits Office. For Your Benefit. PVA Benefits Program 2013 Summary Plan Description

Human Resources Benefits Office. For Your Benefit. PVA Benefits Program 2013 Summary Plan Description Human Resources Benefits Office For Your Benefit PVA Benefits Program 2013 Summary Plan Description TABLE OF CONTENTS Page HOW THE PLAN WORKS... 5 Overview... 5 What is a Voluntary Tax Deferred Annuity

More information

Tier I Tier II. Retire. Getting Ready to. KP&F Pre-Retirement Planning Guide KPERS

Tier I Tier II. Retire. Getting Ready to. KP&F Pre-Retirement Planning Guide KPERS Tier I Tier II Retire Getting Ready to KP&F Pre-Retirement Planning Guide KPERS Countdown to Retirement Checklist Attend a pre-retirement seminar. Our pre-retirement seminars are designed to help you navigate

More information

KPERS. Getting Ready to Retire Your KP&F Pre-Retirement Planning Guide. re-retirement PlanningGuide

KPERS. Getting Ready to Retire Your KP&F Pre-Retirement Planning Guide. re-retirement PlanningGuide Getting Ready to Retire Your KP&F Pre-Retirement Planning Guide re-retirement PlanningGuide nsas Police and Firemen s Retirement System Information for KP&F Members Nearing Retirement KPERS Countdown to

More information

The Prudential SmartSolution IRA. An easy way to save for retirement

The Prudential SmartSolution IRA. An easy way to save for retirement The Prudential SmartSolution IRA An easy way to save for retirement 1 Individual Retirement Accounts (IRAs) are retirement accounts that you can set up on your own, even if you participate in other employer

More information

Annuity Answer Booklet

Annuity Answer Booklet Annuity Answer Booklet Explanations of Annuity Concepts and Language Standard Insurance Company Annuity Answer Booklet Explanations of Annuity Concepts and Language Annuity Definition... 3 Interest Rates...

More information

Added choice under your 457(b) plan.

Added choice under your 457(b) plan. 3019053.G.P-2 12/19/11 12:06 PM Page T01 Added choice under your 457(b) plan. Roth 457: A unique opportunity for tax-free* retirement income. *Qualifying conditions apply. Your future. Made easier. 3019053.G.P-2

More information

Making Informed Rollover Decisions

Making Informed Rollover Decisions Making Informed Rollover Decisions WHAT TO DO WITH YOUR EMPLOYER-SPONSORED RETIREMENT PLAN ASSETS DEFINED CONTRIBUTION PLANS: A defined contribution plan does not promise a specific amount of benefits

More information

GSEPS PLAN HIGHLIGHTS

GSEPS PLAN HIGHLIGHTS GSEPS PLAN HIGHLIGHTS The Georgia State Employees Pension and Savings Plan (GSEPS) is a retirement benefit plan that offers you both the security of a traditional pension plan and the opportunity to invest

More information

4 5 7 P L A N H I G H L I G H T S

4 5 7 P L A N H I G H L I G H T S 457 PLAN HIGHLIGHTS Austin Deferred Compensation Plan The City of Austin Deferred Compensation Plan (the Plan ) is a voluntary retirement benefit plan that allows you to save and invest money toward a

More information

34 Make the Most of Your Employer Retirement Accounts

34 Make the Most of Your Employer Retirement Accounts 144 # 34 Make the Most of Your Employer Retirement Accounts By Barbara Camaglia, MBA, CFP, CFS, CPA Your eyes may glaze over at retirement-plan numbers 401(k), 403(b), 457 but you want to be sure you understand

More information

Maryland Teachers and State Employees Supplemental Retirement Plans. The Basics. 457(b) Roth 457(b) 401(k) Roth 401(k) 403(b)

Maryland Teachers and State Employees Supplemental Retirement Plans. The Basics. 457(b) Roth 457(b) 401(k) Roth 401(k) 403(b) Maryland Teachers and State Employees Supplemental Retirement Plans The Basics 457(b) Roth 457(b) 401(k) Roth 401(k) 403(b) Maryland Teachers and State Employees Supplemental Retirement Plans Getting started

More information

Standard Motor Products, Inc. Profit Sharing 401(k) Capital Accumulation Plan Plan Highlights

Standard Motor Products, Inc. Profit Sharing 401(k) Capital Accumulation Plan Plan Highlights Standard Motor Products, Inc. Profit Sharing 401(k) Capital Accumulation Plan Plan Highlights The Standard Motor Products, Inc. Profit Sharing 401(k) Capital Accumulation Plan (the Plan or SMP 401(k) Plan

More information

2012 ISSUE BROCHURE GOVERNMENT 457(B) PRIMER

2012 ISSUE BROCHURE GOVERNMENT 457(B) PRIMER National Association of Government Defined Contribution Administrators, Inc. 2012 ISSUE BROCHURE GOVERNMENT 457(B) PRIMER By: NAGDCA Publications Committee and Executive Board The following provides a

More information

A GUIDE TO YOUR OPTIONS WHEN SEPARATING FROM SERVICE, INCLUDING THE SPECIAL TAX NOTICE

A GUIDE TO YOUR OPTIONS WHEN SEPARATING FROM SERVICE, INCLUDING THE SPECIAL TAX NOTICE Distribution Options Guide A GUIDE TO YOUR OPTIONS WHEN SEPARATING FROM SERVICE, INCLUDING THE SPECIAL TAX NOTICE. www.modeferredcomp.org 800-392-0925 DISTRIBUTION OPTIONS WHEN SEPARATING FROM SERVICE

More information

GUIDING YOU THROUGH THE YMCA RETIREMENT FUND. From Hire to Retire

GUIDING YOU THROUGH THE YMCA RETIREMENT FUND. From Hire to Retire GUIDING YOU THROUGH THE YMCA RETIREMENT FUND From Hire to Retire ABOUT US The YMCA Retirement Fund was incorporated in New York in 1921. As a 501(c)(3) not-for-profit corporation, the Fund is organized

More information

MARQUETTE UNIVERSITY RETIREMENT PLAN

MARQUETTE UNIVERSITY RETIREMENT PLAN 57883 9/28/06 9:02 PM Page 1 MARQUETTE UNIVERSITY RETIREMENT PLAN Summary Plan Description 57883 9/28/06 9:02 PM Page 2 Plan Sponsor: Marquette University Milwaukee, WI 53201 Agent for Service for Legal

More information

Retirement by the Numbers. Calculating the retirement that s right for you

Retirement by the Numbers. Calculating the retirement that s right for you Retirement by the Numbers Calculating the retirement that s right for you Retirement should equal success Your retirement is likely the biggest investment you ll make in life. So it s important to carefully

More information

State Street Salary Savings Program

State Street Salary Savings Program State Street Salary Savings Program The 401(k) Plan Summary Plan Description STATE STREET CORPORATION This booklet is a Summary Plan Description (SPD) of the State Street Salary Savings Program ( SSP or

More information

Working for Your Future

Working for Your Future Working for Your Future Valero Energy Corporation Thrift Plan Highlights Enroll Today Congratulations! You are now eligible to participate in the Valero Energy Corporation Thrift Plan (the Thrift Plan

More information

DEFERRED COMPENSATION REQUEST FOR DISTRIBUTION OF FUNDS - City of Costa Mesa, CA

DEFERRED COMPENSATION REQUEST FOR DISTRIBUTION OF FUNDS - City of Costa Mesa, CA CALIFORNIA 457 BENEFITS Plan Administration & Investment Advice DEFERRED COMPENSATION REQUEST FOR DISTRIBUTION OF FUNDS - City of Costa Mesa, CA IMPORTANT-REMEMBER TO PRINT LEGIBLY IN BLACK OR BLUE INK

More information

THE BASICS OF YOUR RETIREMENT PLAN

THE BASICS OF YOUR RETIREMENT PLAN THE BASICS OF YOUR RETIREMENT PLAN CONTENTS CREATE THE FOUNDATION FOR YOUR FINANCIAL FUTURE 3 INVESTING FOR RETIREMENT 4 ACCESSING YOUR RETIREMENT ASSETS 5 WHAT HAPPENS IF I CHANGE EMPLOYERS OR RETIRE?

More information

Then, complete a salary reduction agreement form by either going on-line or by contacting PlanConnect at the phone number indicated below.

Then, complete a salary reduction agreement form by either going on-line or by contacting PlanConnect at the phone number indicated below. Welcome! We re PlanConnect Your Employer s New 403(b) Plan Administrator Your plan sponsor, Huron City Schools, selected PlanConnect as the third-party administrator for its 403(b) plan. We are excited

More information

Enroll today. Enjoy tomorrow. University System of Georgia Benefits 403(b) and 457(b) Retirement Plans SAVING : INVESTING : PLANNING

Enroll today. Enjoy tomorrow. University System of Georgia Benefits 403(b) and 457(b) Retirement Plans SAVING : INVESTING : PLANNING Enroll today. Enjoy tomorrow. University System of Georgia Benefits 403(b) and 457(b) Retirement Plans SAVING : INVESTING : PLANNING 2 It s your future. Make it the one you envision. As an employee of

More information

Supplemental Retirement Account. Summary Plan Description

Supplemental Retirement Account. Summary Plan Description Supplemental Retirement Account Summary Plan Description This booklet is not the Plan document, but only a summary of its main provisions and not every limitation or detail of the Plan is included. Every

More information

GUIDING YOU THROUGH THE YMCA RETIREMENT FUND. From Hire to Retire

GUIDING YOU THROUGH THE YMCA RETIREMENT FUND. From Hire to Retire GUIDING YOU THROUGH THE YMCA RETIREMENT FUND From Hire to Retire ABOUT US The YMCA Retirement Fund was incorporated in New York in 1921. As a 501(c)(3) not-for-profit corporation, the Fund is organized

More information

Ready, Set, Retire. Administered by

Ready, Set, Retire. Administered by Ready, Set, Retire Administered by Agenda Phase One: Save Building a Balanced Retirement plan The Benefits of Saving Through the Texa$aver SM Program Special 457 Catch-Up Phase Two: Distribution Options

More information

If you wish to apply for a distribution at this time, please follow the instructions below:

If you wish to apply for a distribution at this time, please follow the instructions below: Dear DC 401(a) Retirement Plan Participant: You recently contacted ING and requested a Distribution Package for the DC 401(a) Retirement Plan. Before completing the necessary forms, we recommend that you

More information

SEC. Variable Annuities. What You Should Know... United States Securities and Exchange Commission

SEC. Variable Annuities. What You Should Know... United States Securities and Exchange Commission SEC Variable Annuities What You Should Know... United States Securities and Exchange Commission Variable Annuities What You Should Know... V ariable annuities have become a part of the retirement and investment

More information

Mailing Address: P.O. Box 9394 Des Moines, IA FAX (866)

Mailing Address: P.O. Box 9394 Des Moines, IA FAX (866) Mailing Address: P.O. Box 9394 Des Moines, IA 50306-9394 FAX (866) 704-3481 Principal Life Insurance Company Complete this form to withdraw part of your retirement funds while still employed. Participant

More information

Buyer's Guide To Fixed Deferred Annuities

Buyer's Guide To Fixed Deferred Annuities Buyer's Guide To Fixed Deferred Annuities Prepared By The National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association of state insurance regulatory

More information

Willamette University Defined Contribution Retirement Plan

Willamette University Defined Contribution Retirement Plan Willamette University Defined Contribution Retirement Plan Table of Contents Introduction... 3 Important Information About the Plan... 4 Joining the Plan... 5 Contributions to the Plan... 6 Managing Your

More information

Los Rios Community College District Retirement Savings Plan

Los Rios Community College District Retirement Savings Plan Phone: 800.248.8858 Fax: 877.513.2272 Los Rios Community College District Retirement Savings Plan We would like to make our employees aware of the retirement plans that we sponsor which include a 403(b)

More information

Then, complete a salary reduction agreement form by either going on-line or by contacting PlanConnect at the phone number indicated below.

Then, complete a salary reduction agreement form by either going on-line or by contacting PlanConnect at the phone number indicated below. Welcome! We re PlanConnect Your Employer s 403(b) Plan Administrator PlanConnect is the third-party administrator for employees of Huron City Schools for its 403(b) plan. We have been working with Huron

More information

Getting Started in Savings Plus

Getting Started in Savings Plus Getting Started in Savings Plus Managing Your Account: From Enrollment Through Retirement A Summary Plan Description of the Savings Plus Program 1 Table of Contents Chapter 1 The Savings Plus Program Pages

More information

RSPP Exp 1/23/2019. Transition. Magellan Health, Inc. Retirement Savings Plan. Place client logo here

RSPP Exp 1/23/2019. Transition. Magellan Health, Inc. Retirement Savings Plan. Place client logo here 0286146-00002-00 Exp 1/23/2019 RSPP470 Transition Presented by Daniel Dionne. CRC Place client logo here Magellan Health, Inc. Retirement Savings Plan This presentation is intended to provide information

More information

SanJose.beready2retire.com. City of San José Deferred Compensation. Plan Overview DEFER R ED CO MPENSATION PLAN PLAN SAVE GROW

SanJose.beready2retire.com. City of San José Deferred Compensation. Plan Overview DEFER R ED CO MPENSATION PLAN PLAN SAVE GROW SanJose.beready2retire.com City of San José Deferred Compensation Plan Overview DEFER R ED CO MPENSATION PLAN PLAN SAVE GROW Having the income you need in your later years may require careful planning

More information

Date: November 8, 2010 Code: TECHNICAL LETTER HR/Benefits To: Human Resources Directors Benefits Officers

Date: November 8, 2010 Code: TECHNICAL LETTER HR/Benefits To: Human Resources Directors Benefits Officers Office of the Chancellor 401 Golden Shore, 4 th Floor Long Beach, CA 90802-4210 562-951-4411 E-mail: hradmin@calstate.edu Date: November 8, 2010 Code: TECHNICAL LETTER To: Human Resources Directors Benefits

More information

The How Do I Save For Retirement Challenge

The How Do I Save For Retirement Challenge 0278470-00003-00 Exp 12/12/2018 RSPP487 The How Do I Save For Retirement Challenge Presented by Dallas Chastain Place client logo here Magellan Health, Inc. Retirement Savings Plan This presentation is

More information

Retirement Income: 401(k) and Other Employer-Sponsored Retirement Plans

Retirement Income: 401(k) and Other Employer-Sponsored Retirement Plans Nicholson Financial Services, Inc. David S. Nicholson Financial Advisor 89 Access Road Ste. C Norwood, MA 02062 781-255-1101 866-668-1101 david@nicholsonfs.com www.nicholsonfs.com Retirement Income: 401(k)

More information

Learn about distribution options for your employer retirement plan assets. Investor education

Learn about distribution options for your employer retirement plan assets. Investor education Learn about distribution options for your employer retirement plan assets Investor education It s your retirement: Choose wisely As you plan your retirement, you ll need to decide what to do with the

More information

Don t wait for the Check retirement savings light to come on. Enroll today. BorgWarner Inc. Retirement Savings Plan - Hourly (099103)

Don t wait for the Check retirement savings light to come on. Enroll today. BorgWarner Inc. Retirement Savings Plan - Hourly (099103) Don t wait for the Check retirement savings light to come on. Enroll today. BorgWarner Inc. Retirement Savings Plan - Hourly (099103) ! Don t come up short When it comes to your retirement savings, you

More information

Distributions from your employersponsored. retirement plan. Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York

Distributions from your employersponsored. retirement plan. Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York Distributions from your employersponsored retirement plan Understanding your options Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York AMK-068-N Page 1 of 12 Your

More information

Introducing Pension Plus 2 and the Defined Contribution plan

Introducing Pension Plus 2 and the Defined Contribution plan Introducing and the plan Welcome to the first and most important step on your journey to retirement: choosing your plan. Please explore this site carefully so you can make a confident choice for you and

More information

INDIVIDUAL 401(k) PLAN

INDIVIDUAL 401(k) PLAN INDIVIDUAL 401(k) PLAN Guidebook CONTENTS WELCOME. When you commit to saving for retirement, you want to invest with a company that shares your dedication to hard work and results. At T. Rowe Price, we

More information

AUTOMATIC ENROLLMENT 401(k) PLANS. for Small Businesses

AUTOMATIC ENROLLMENT 401(k) PLANS. for Small Businesses AUTOMATIC ENROLLMENT 401(k) PLANS for Small Businesses Automatic Enrollment 401(k) Plans for Small Businesses is a joint project of the U.S. Department of Labor s Employee Benefits Security Administration

More information

DEFERRED COMPENSATION (457) PLAN Frequently Asked Questions

DEFERRED COMPENSATION (457) PLAN Frequently Asked Questions FREQUENTLY ASKED QUESTIONS: PLAN OVERVIEW What is the Deferred Compensation Plan? Who is eligible to enroll? What is the role WCERS? What is the role of the Deferred Compensation Providers? What are the

More information

Guide to Employee Benefits Retirement Programs

Guide to Employee Benefits Retirement Programs Guide to Employee Benefits Retirement Programs 2017 TABLE OF CONTENTS PROGRAM AT A GLANCE...2 CASH BALANCE PENSION PLAN...3 BENEFIT START DATE...5 ADDITIONAL BENEFIT CREDITS...7 HOW THE AMOUNT IS DETERMINED...9

More information

S ta te of Connecticut de fer red co mpensatio n Plan. distribution options TAKING WITHDRAWALS FROM YOUR PLAN ACCOUNT

S ta te of Connecticut de fer red co mpensatio n Plan. distribution options TAKING WITHDRAWALS FROM YOUR PLAN ACCOUNT S ta te of Connecticut de fer red co mpensatio n 4 5 7 Plan distribution options TAKING WITHDRAWALS FROM YOUR PLAN ACCOUNT by participating in the State of Connecticut Deferred Compensation 457 Plan,

More information

a 457(b) plan can help me save enough to retire

a 457(b) plan can help me save enough to retire retirement plan a 457(b) plan can help me save enough to retire EQUI-VEST Strategies sm series 900 and 901 group variable deferred annuity for 457(b) EDC plans Variable Annuities: Are Not a Deposit of

More information

Roth Elective Deferrals. A Reference Manual For Employers

Roth Elective Deferrals. A Reference Manual For Employers Roth Elective Deferrals A Reference Manual For Employers You may have read about Roth elective deferrals in various trade journals or retirement publications since their inception in January 2006. More

More information

The Answers to 46 Frequently Asked Questions about Retirement

The Answers to 46 Frequently Asked Questions about Retirement The Answers to 46 Frequently Asked Questions about Retirement 1. Where will my retirement income come from? According to the Social Security Administration, many retirees receive income from four main

More information

401(k) RETIREMENT SAVINGS PLAN

401(k) RETIREMENT SAVINGS PLAN CHI 401(k) RETIREMENT SAVINGS PLAN Helping You Build Financial Security for Retirement CHI Healthy SPIRIT Physical and financial health and wellness SM Invest some of what you earn today for what you plan

More information

The CTA Educator s Retirement Planning Guide

The CTA Educator s Retirement Planning Guide The CTA Educator s Retirement Planning Guide o A Message from Eric C. Heins Dear Colleague, Today could be one of the most important days of your life if you start setting aside some money for your retirement

More information

2017 House Officer November Lump Sum Payments Saving for Retirement

2017 House Officer November Lump Sum Payments Saving for Retirement UNIVERSITY OF MICHIGAN BENEFITS OFFICE WOLVERINE TOWER LOW RISE G405 3003 SOUTH STATE STREET ANN ARBOR, MI 48109-1278 hr.umich.edu/retirement-savings-plans 2017 House Officer November Lump Sum Payments

More information

PERSONAL FINANCE. individual retirement accounts (IRAs)

PERSONAL FINANCE. individual retirement accounts (IRAs) PERSONAL FINANCE individual retirement accounts (IRAs) 1 our purpose To lead and inspire actions that improve financial readiness for the military and local community. table of contents The Basics Of IRAs...

More information

BRANDEIS UNIVERSITY. Defined Contribution Retirement Plan for Nonexempt Employees. Summary Plan Description

BRANDEIS UNIVERSITY. Defined Contribution Retirement Plan for Nonexempt Employees. Summary Plan Description BRANDEIS UNIVERSITY Defined Contribution Retirement Plan for Nonexempt Employees Summary Plan Description January 2017 TABLE OF CONTENTS BENEFIT OVERVIEW... 1 CONTRIBUTIONS TO THE PLAN... 2 EMPLOYEE VOLUNTARY

More information