{"id":2847,"date":"2019-11-07T15:10:02","date_gmt":"2019-11-07T15:10:02","guid":{"rendered":"http:\/\/ffbenefits.ffga.com\/ferrisisd\/?page_id=2847"},"modified":"2025-09-24T18:52:00","modified_gmt":"2025-09-24T18:52:00","slug":"403b-retirement-plan","status":"publish","type":"page","link":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/403b-retirement-plan\/","title":{"rendered":"403(b) Retirement Plan"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-8ij64-92b65ae59db776b91c609e97f5c2ff54\">\n.flex_column.av-8ij64-92b65ae59db776b91c609e97f5c2ff54{\n-webkit-border-radius:0px 0px 0px 0px;\n-moz-border-radius:0px 0px 0px 0px;\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div class='flex_column av-8ij64-92b65ae59db776b91c609e97f5c2ff54 av_one_full  avia-builder-el-0  el_before_av_three_fifth  avia-builder-el-first  first flex_column_div av-zero-column-padding '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-m6y914-951da0d1b10ab86ff9e4a2c7cd2cee79\">\n.avia-image-container.av-m6y914-951da0d1b10ab86ff9e4a2c7cd2cee79 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-m6y914-951da0d1b10ab86ff9e4a2c7cd2cee79 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-m6y914-951da0d1b10ab86ff9e4a2c7cd2cee79 av-styling- avia_animated_image av-animated-when-visible-95 right-to-left avia-align-center  avia-builder-el-1  avia-builder-el-no-sibling '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-2852 avia-img-lazy-loading-not-2852 avia_image ' src=\"\/wp-content\/uploads\/sites\/52\/2019\/11\/403b-002-1030x139.png\" alt='' title='403b (002)'  height=\"139\" width=\"1030\"  itemprop=\"thumbnailUrl\" srcset=\"\/wp-content\/uploads\/sites\/52\/2019\/11\/403b-002-1030x139.png 1030w, \/wp-content\/uploads\/sites\/52\/2019\/11\/403b-002-300x40.png 300w, \/wp-content\/uploads\/sites\/52\/2019\/11\/403b-002-768x103.png 768w, \/wp-content\/uploads\/sites\/52\/2019\/11\/403b-002.png 1500w, \/wp-content\/uploads\/sites\/52\/2019\/11\/403b-002-705x95.png 705w\" sizes=\"(max-width: 1030px) 100vw, 1030px\" \/><\/div><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kx8sx8-03ae7819cb86b6c7640e3c5babe6d3f8\">\n.flex_column.av-kx8sx8-03ae7819cb86b6c7640e3c5babe6d3f8{\n-webkit-border-radius:0px 0px 0px 0px;\n-moz-border-radius:0px 0px 0px 0px;\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div class='flex_column av-kx8sx8-03ae7819cb86b6c7640e3c5babe6d3f8 av_three_fifth  avia-builder-el-2  el_after_av_one_full  el_before_av_two_fifth  first flex_column_div av-zero-column-padding column-top-margin'     ><section  class='av_textblock_section av-jofai4-9ef2d0dd9cc9372ee71fbfcc876ede2c'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p>The 403(b) can be an excellent way to save money for retirement. It can serve as a supplement to a traditional pension plan or other retirement plan(s), or as a stand-alone plan. The 403(b) is a tax deferred retirement plan available to employees of educational institutions and certain non-profit organizations as determined by section 501(c)(3) of the Internal Revenue Code. Contributions and investment earnings in a 403(b) grow tax deferred until withdrawal (assumed to be retirement), at which time they are taxed as ordinary income. The 403(b) is named after the section of the IRS code governing it.<\/p>\n<p><b>How a 403(b) Works<\/b><\/p>\n<p>Employees enroll and participate through their employer. Contributions to a 403(b) are made on a pre-tax basis through a Salary Reduction Agreement. This is an arrangement where the participating employee agrees to take a reduction in salary. The amount by which the salary is reduced is directed to investments offered through the employer and selected by the employee. These contributions are called elective deferrals and are excluded from the employee&#8217;s taxable income. Contributions grow tax-deferred until the time of retirement, when withdrawals are taxed as ordinary income.<\/p>\n<p><strong>Benefits Include:<\/strong><\/p>\n<ul>\n<li>Tax deferred growth: no annual taxation on earnings<\/li>\n<li>Investment options: fixed annuities, variable annuities, or mutual funds<\/li>\n<li>Competitive interest rates<\/li>\n<li>Flexibility: start, stop, and adjust your contributions as allowed by your employer&#8217;s plan.<\/li>\n<li>Receive periodic account statements<\/li>\n<\/ul>\n<p><strong>Contribution Limits<\/strong><\/p>\n<ul>\n<li><strong>2024<\/strong>:\u00a0$23,000<\/li>\n<li><strong>2025<\/strong>: $23,500<\/li>\n<li>Participants aged 50 and older at any time during the calendar year are permitted to contribute an additional $7,500.<\/li>\n<\/ul>\n<p><em>All investing involves risk. Past performance is not a guarantee of future returns.<\/em><\/p>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"layoutArea\">\n<div class=\"column\"><\/div>\n<\/div>\n<\/div>\n<\/div><\/section><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-cb91do-39ece4bf42419dfc3a8b064b63dea3fe\">\n.flex_column.av-cb91do-39ece4bf42419dfc3a8b064b63dea3fe{\n-webkit-border-radius:0px 0px 0px 0px;\n-moz-border-radius:0px 0px 0px 0px;\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div class='flex_column av-cb91do-39ece4bf42419dfc3a8b064b63dea3fe av_two_fifth  avia-builder-el-4  el_after_av_three_fifth  el_before_av_hr  flex_column_div av-zero-column-padding column-top-margin'     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-b68230-cc2d6f28f6a09bb3264a83f68ef34b0a\">\n.iconbox.av-b68230-cc2d6f28f6a09bb3264a83f68ef34b0a .iconbox_icon{\nbackground-color:#c42032;\n}\n<\/style>\n<article  class='iconbox iconbox_top av-b68230-cc2d6f28f6a09bb3264a83f68ef34b0a  avia-builder-el-5  el_before_av_icon_box  avia-builder-el-first  main_color'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class=\"iconbox_content\"><header class=\"entry-content-header\"><a href='mailto:retirement@ffga.com' title='First Financial Administrators, Inc.' target=\"_blank\" rel=\"noopener noreferrer\" class=\"iconbox_icon heading-color\" aria-hidden='true' data-av_icon='\ue854' data-av_iconfont='entypo-fontello'><\/a><h3 class='iconbox_content_title '  itemprop=\"headline\" ><a href='mailto:retirement@ffga.com' title='First Financial Administrators, Inc.' target=\"_blank\" rel=\"noopener noreferrer\">First Financial Administrators, Inc.<\/a><\/h3><\/header><div class='iconbox_content_container '  itemprop=\"text\" ><header class=\"entry-content-header\">800-523-8422, option 2<\/p>\n<p><a href=\"mailto:retirement@ffga.com\">retirement@ffga.com<\/a><\/p>\n<\/header>\n<div class=\"iconbox_content_container \"><\/div>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-b68230-1-13aedc90dd1de2b9e46d979458c78654\">\n.iconbox.av-b68230-1-13aedc90dd1de2b9e46d979458c78654 .iconbox_icon{\nbackground-color:#c42032;\n}\n<\/style>\n<article  class='iconbox iconbox_top av-b68230-1-13aedc90dd1de2b9e46d979458c78654  avia-builder-el-6  el_after_av_icon_box  el_before_av_iconlist  main_color'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class=\"iconbox_content\"><header class=\"entry-content-header\"><a href='http:\/\/services.ffga.com\/403(b)-home\/403(b)-employer-information.aspx' title='EMPLOYER PLAN AND PROVIDER INFORMATION' target=\"_blank\" rel=\"noopener noreferrer\" class=\"iconbox_icon heading-color\" aria-hidden='true' data-av_icon='\ue832' data-av_iconfont='entypo-fontello'><\/a><h3 class='iconbox_content_title '  itemprop=\"headline\" ><a href='http:\/\/services.ffga.com\/403(b)-home\/403(b)-employer-information.aspx' title='EMPLOYER PLAN AND PROVIDER INFORMATION' target=\"_blank\" rel=\"noopener noreferrer\">EMPLOYER PLAN AND PROVIDER INFORMATION<\/a><\/h3><\/header><div class='iconbox_content_container '  itemprop=\"text\" ><p>View administration, enrollment, contribution and plan option details.<\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-jv9m4793-506a767ece1d2cdc3c0bd75ab31e8a9f\">\n#top .avia-icon-list-container.av-jv9m4793-506a767ece1d2cdc3c0bd75ab31e8a9f .iconlist_icon{\ncolor:#ffffff;\nbackground-color:#c42032;\n}\n<\/style>\n<div  class='avia-icon-list-container av-jv9m4793-506a767ece1d2cdc3c0bd75ab31e8a9f  avia-builder-el-7  el_after_av_icon_box  avia-builder-el-last '><ul class='avia-icon-list avia_animate_when_almost_visible avia-icon-list-left av-iconlist-big av-jv9m4793-506a767ece1d2cdc3c0bd75ab31e8a9f avia-iconlist-animate'>\n<li><div class='iconlist_icon av-1yvprj-2cb5b1b8e70920caa180e09119e6d087 avia-font-entypo-fontello'><span class='iconlist-char' aria-hidden='true' data-av_icon='\ue81f' data-av_iconfont='entypo-fontello'><\/span><\/div><article class=\"article-icon-entry \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class=\"iconlist_content_wrap\"><header class=\"entry-content-header\"><h4 class='av_iconlist_title iconlist_title  '  itemprop=\"headline\" >403(b) PLAN INFORMATION<\/h4><\/header><div class='iconlist_content '  itemprop=\"text\" ><p><a href=\"http:\/\/www.ffga.com\/wp-content\/uploads\/universalavailabilitynotice.pdf\">Universal Availability Notice\u00a0<\/a><\/p>\n<p><a href=\"https:\/\/www.ffga.com\/wp-content\/uploads\/f-403bsra.pdf\">403(b) Salary Reduction Agreement\u00a0<\/a><\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><div class=\"iconlist-timeline\"><\/div><\/li>\n<\/ul><\/div><\/p><\/div><\/p>\n<div  class='hr av-hp528s-f0110508a8df7b4bfb69cad031c8a1cc hr-default  avia-builder-el-8  el_after_av_two_fifth  avia-builder-el-last '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":8,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-2847","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/wp-json\/wp\/v2\/pages\/2847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/wp-json\/wp\/v2\/comments?post=2847"}],"version-history":[{"count":15,"href":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/wp-json\/wp\/v2\/pages\/2847\/revisions"}],"predecessor-version":[{"id":3454,"href":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/wp-json\/wp\/v2\/pages\/2847\/revisions\/3454"}],"wp:attachment":[{"href":"https:\/\/ffbenefits.ffga.com\/ferrisisd\/wp-json\/wp\/v2\/media?parent=2847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}