Retirement Plans - 2021

403(b) Retirement Plan

A 403(b) is a retirement savings plan generally offered by public schools and other tax-exempt organizations that allows employees to make contributions on a pretax basis. Most plans allow you to start, stop, increase or decrease contributions at any time. The employer determines the investment providers and employees must open an account with one of those providers to contribute.

TCG Administrators (formerly JEM Resource Partners) is the plan administrator; you can elect salary deductions at www.tcgservices.com.

You will need to login, select your employer, and register using your plan password. Follow through the steps to choose company and salary deduction. You must then contact the company to set up an account.

In 2022, you can contribute 100% of your includible compensation up to $20,500, whichever is less. If you are age 50 or older, you can contribute up to an additional $6,500 for a total of $27,000. All investing involves risk. Past performance is not a guarantee of future returns.

TCG Retirement

(800) 943-9179

www.tcgservices.com

403(b) PLAN INFORMATION

403(b) Plan Enrollment Instructions

Retirement Savings Guide

403b Summary Plan Description

RAMS 403b Retirement Plan Brochure

RAMS 403b Retirement Plan Brochure (Spanish)

Vendors Available In TCG Administered Plan

457(b) Retirement Plan

The 457 plan is a district-sponsored voluntary retirement savings plan that allows an employee to save money for retirement on a tax-deferred basis. Your district has chosen to offer the TCG 457 Plan which has low-cost investment options. The TCG 457 Plan has investment options that do not contain any surrender charges or penalties upon distribution. Remember that all investing involves risk.

The plan contains most of the same features of the 403(b) plan, but is different in one unique way. Distributions from the 457 Deferred Compensation Plan are not subject to the 10% excise tax for early withdrawal.

In 2022, you can contribute 100% of your includible compensation up to $20,500, whichever is less. If you are age 50 or older, you can contribute up to an additional $6,500 for a total of $27,000.

In addition to pre-tax deferrals on your 457 plan you may now elect Roth deferrals, which are made on an after-tax basis. Roth deferrals and associated earnings can be withdrawn tax-free in retirement if the requirements for a “qualified distribution” are met.

See a Benefits Advisor for more information, or call TCG Administrators at 800.943.9179, or log onto the www.tcgservices.com to enroll in the TCG 457 Plan. Enroll on the benefit website at open enrollment or at www.tcgservices.com all year, login and select your employer, register using plan password as gccisd, and follow through the steps and information to enroll in your investment and salary reduction.