403(b) ANNUITY PROGRAM

SAVE FOR YOUR FUTURE

It’s never too early or too late to start investing for your retirement!

Public school employees have the option to enter into investments with companies that meet the guidelines set forth by law and rule and are listed on the TRS List of 403(b) certified companies, using payroll reduction.

El Paso Independent School District offers employees the opportunity to participate in a “before tax” retirement savings plan.

WHO SHOULD PARTICIPATE?

Every eligible employee of the District should supplement his or her Teacher Retirement System Account.  Careful planning for your retirement years should begin early so that your money can work for you and your financial future

HOW TO GET STARTED

• View the list of 403 (b) Certified Companies by clicking on the link below
• Contact an agent of your choice.  You can view the list of agents by clicking on the link listed below
• Once you contact an agent of your choice, all documentation required to initiate your investment will be submitted by your agent

DO YOU KNOW HOW MUCH YOU CAN REDUCE YOUR TAXABLE INCOME AND ALSO COMPOUND YOUR RETIREMENT SAVINGS?

Take a look and compare saving pre-tax vs. post tax

Save More and Take Home More!

All contributions are deducted from your paycheck before income taxes are withheld.  For the tax year in which you contribute, your income may fall in a lower tax bracket, resulting in lower taxes paid to the IRS.  Contributions grow tax-free and any earnings are also tax deferred until they are withdrawn.  You will usually be in a lower tax bracket at retirement.

• You can contribute up to the 2007 Maximum limit of $15,500.
• There are other contributions available under special circumstances:
• Catch-Up >50 Provision allows you to contribute an additional $5,000 if you are over the age of 50.
• 15 years of service with your employer allows up to an additional $3,000 contribution