Retirement Education Homeroom

What even is a 403(b) Plan?

A 403(b) is a retirement savings plan designed specifically for public school employees. They work alongside your pension, helping to fill your retirement income gap—the difference between what your pension may pay and what you will need.

Typically, 403(b) contributions are made pre-tax and grow tax-deferred while in the plan, allowing you to stretch your retirement dollars. You only pay taxes when you take it out of the plan.

Saving in a 403(b) allows you to:

Take control of your retirement security by contributing directly to a 403(b) savings plan through payroll deductions.

Accumulate money on a tax-favored basis, to supplement your pension or another retirement plan.

Keep your money, no matter where you go. Transfer your savings to other employer plans or into a traditional IRA if you leave your job.

Your financial professional can help you move funds and recommend changes to your portfolio.