Find out if you’re eligible to receive the new Employee Retention Credit that gives you an average of $10,000 per employee

Q

While Everyone may have Different Goals – Everyone needs a Retirement Strategy

Who is eligible?

  • Public and Private Schools k -12
  • Colleges and Universities
  • 501c3 Organizations
  • Churches
  • Hospitals
  • State & Local Governments
Documents

Types of Retirement Plans

403(b) Plans

403(b) plans are employer-sponsored plans through payroll deduction similar to a
401(K)

  • Pre-tax contribution limits $20,500
  • Catch-up provision $6,500 for those age 50 and older
  • Employer may contribute to plan
  • Participants must wait until age 59 1/2 before withdrawing funds or paying
    an early withdrawal penalty
  • Money grows tax-deferred
  • Money taxed at the time of withdrawal

Roth 403(b) Plans

Roth 403(b) plans are employer-sponsored through payroll deduction similar to a
401(k)

  • After-tax contribution
  • No immediate tax advantage
  • Money grows tax-deferred
  • Employer may contribute to the plan
  • Money at the time of withdrawal is not taxed
  • Compliments other retirement plans
  • Portable for easy, tax-free rollovers to other plans and IRA’s
  • Flexible account options to diversify assets

457(b) Plans

457(b) plans are employer-sponsored through payroll deduction similar to a
401(k)

  • Offered to state and local government employees
  • Highly compensated employees
  • Some 501c3 employees
  • Contributions are the pre-tax basis
  • Tax-deferred growth until funds are withdrawn
  • Participants are eligible to contribute 100% of their salary
  • There is no 10% penalty in the event the employee retires before 59 ½