Your employer offers a 457(b) retirement plan as a way to help you save for life beyond your prime working years. Opening a plan can help you build savings with the convenience of contributing directly from your salary on pre-tax or after-tax (Roth) basis. You have the ability to start, stop, increase or decrease contributions any time. Enrolling in a 457(b) savings plan can help bring financial stability and security for life upon retirement. You can lower your current taxes or earn tax-free income, bridge your retirement income gap, and get closer financial independence. Unlike 403(b) plans, early withdrawals from a 457(b) account are not subject to a 10 percent early withdrawal tax upon separating from the employer.
Enroll and create your 457(b) account now!
- Start at www.tcgservices.com/enroll.
- Search for Highland Park ISD and choose the 457(b) Savings Plan.
- Follow the steps on screen to select your salary contribution and investment options. Don’t forget to designate an account beneficiary. Note: If you’re unsure about which investment option to select or how much you should save, schedule a meeting with a Retirement Plan Specialist at www.tcgservices.com/telewealth.
- Continue until you get a confirmation notice, and you’re done!
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.
You may simultaneously contribute to both 403(b) and 457(b) plans.
TCG
(800) 943-9179
