
Whether you are just starting your career or nearing retirement, it is always a good idea to save for retirement. And your employer’s 403(b) and/or 457(b) plan is a great way to do it. Each plan offers:
- The convenience of payroll deductions,
- The ability to defer taxes on your contributions and any earnings until you take a distribution,* and
- Access to a variety of investment options.
403(b) plans may also offer you the potential for tax-free distributions of contributions and earnings, if your employer’s plan includes a Roth contribution feature.
PlanConnect® is here to support you, working closely with your employer, financial professional, and investment provider to make your participation in the plan an efficient and seamless process. For some basic information about your plan, you can select the tabs for “403(b) Plans” or “457(b) Plans,” or take a look through our Plan Participant Q&As. For detailed information, you can contact PlanConnect® or call the Service Center at (800) 923-6669.
*Taxes must be paid at withdrawal on the pre-tax portion of your savings and any earnings. You might incur a 10% federal tax penalty if you withdraw funds from your 403(b) account, or from amounts rolled over to a 457(b) plan from non-457(b) plans, before age 59½.