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 2018, you can contribute 100% of your includible compensation up to $18,500, whichever is less. If you are age 50 or older, you can contribute up to an additional $6,000 for a total of $24,500.

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.