Retirement Plans - TCG | Ennis ISD

403(b) Retirement Plan

Research shows that people are Americans are living well past retirement years. Are you saving enough to be able to enjoy those years? A 403(b) plan can help you get there.

It’s an IRS-approved retirement plan that allows you to set aside money on an after-tax basis for your retirement. Contributions are conveniently made through payroll deduction, so money is moved from your paycheck into the account automatically. Plus, you employer may even match your contributions based on how much you put into the plan. Now is the time to take full advantage of this opportunity to maximize your retirement savings!

Contribution Limits

2023: $22,500
2024: $23,000
Participants aged 50 and older at any time during the calendar year are permitted to contribute an additional $7,500.

403(b) Retirement Savings Plan – Similar to a 457(b) plan, you can contribute to a
403(b) savings plan through payroll deductions. If you choose to save with 403(b) plans,
To establish a 403(b) account, you must first select an investment provider from a list of
approved vendors, and then elect contributions on a pre-tax or Roth basis. Once you
have established your plan, TCG Administrators can help with distributions, transfers,
loans, and rollovers.
Get started at www.region10rams.org/403b

Retirement Savings Guide

RAMS 403b Retirement Plan Brochure

RAMS 403b Retirement Plan Brochure Spanish

403b TX Vendors List

TASBO 403(b) Investment Provider Guide: https://www.tasbo.org/news/403b-txed-guide

457(b) Retirement Plan

The 457(b) plan is an employer-sponsored voluntary retirement savings plan that allows you to save money for retirement on a tax-deferred basis. The plan contains most of the same features of the 403(b) plan, but is different in one unique way. Distributions from a 457(b) Deferred Compensation Plan are not subject to the 10 percent excise tax for early withdrawal.

Contribution Limits

2023: $22,500
2024: $23,000
Participants aged 50 and older at any time during the calendar year are permitted to contribute an additional $7,500.

457(b) Retirement Savings Plan – Contributing regularly to a 457(b) can give you the
power and confidence to retire with more in your pocket to cover housing, health care,
vacations, bills, and other expenses upon retirement. You can start by contributing $25
per paycheck and see your savings grow over time. If you leave a job or retire before
age 59½ and need to withdraw your retirement funds from a 457(b), you won’t pay a
10% tax penalty (only ordinary income tax).
Participating in this district-sponsored 457(b) plan grants you additional special perks,
including free access to a financial wellness program, a complimentary creation of a
personal will, and free tax preparation services.
Get started at www.region10rams.org/457

Retirement Savings Guide

457(b) Savings Plan Overview

457(b) Savings Plan Overview (Spanish)

457(b) Plan Enrollment Instructions

457(b) Summary Plan Description and Forms

401(a) TERRP

A 401(a) is a retirement savings plan that allows accumulation of tax-advantaged funds for retirement with contributions coming from the employer, the employee or both. Employers may match a fixed percentage of employee contributions or contribute without a required employee contribution. Since this plan type is often used as an incentive, vesting schedules for funds are often associated with it.

Eligible employees:

Employees who contribute to a 403(b) plan or a 457(b) plan with Ennis ISD

Here’s the link for the summary plan description:

401(a) TERRP Summary Plan Description Ennis ISD