Enhance Your Future with a Supplemental Retirement Plan
Saving for retirement is essential, and a supplemental retirement plan can help you build additional financial security beyond your primary retirement benefits. Whether you're looking to increase your savings, reduce your taxable income, or take advantage of employer matching, a supplemental plan offers valuable benefits. Employees can take advantage of both the 403(b) and 457 plans – including contributing up to the IRS maximum to both plans each year, depending on your personal circumstances.
Key Advantages:
- Tax Savings – Contributions may be made pre-tax, lowering your taxable income, or post-tax (Roth), allowing for tax-free withdrawals in retirement.
- Flexible Contributions – Adjust your contributions as needed to fit your budget and financial goals.
- Compounded Growth – The earlier you start, the more your investments can grow over time through tax-deferred or tax-free earnings.
- Additional Security – A supplemental plan helps ensure you have enough savings to maintain your desired lifestyle in retirement.
Investing in your future today can lead to greater peace of mind tomorrow. To explore your options, please visit our Supplemental Retirement Planning website.
For questions or assistance, please reach out to the Benefits team at benefits@gmu.edu.