information for the community

Tax Sheltered Accounts

Here on our new Tax Sheltered Accounts page you will find all the information and links listed below that was previously posted on the Community Webpage for Risk Management and Employee Benefits.

 

TRS Financial Awareness Video Series

 

PLAN COMPARISON

 

Plan Features
457(b) Provided by TIAA
403(b) Registered under TRS
Investments Selection Types Low cost mutual funds or a fixed account with above market interest rate. Retail priced contracts. Fixed annuities - index annuities - variable annuities and custodial accounts (mutual funds)
Contribution Limits $18,000 with an over 50 catch-up of $6,000 $18,000 with an over 50 catch-up of $6,000
Loans Yes Varies by Provider
Restrictions on Various Investments None-unlimited transfer between funds Yes
Withdrawal Charges No Yes, between companies and possibly at separation of service.
Expense Ratio - Account Fee Fee range between: .56% - 1.38% Average 2.5% and an account fee of $20 - $50. Maximum 2.75%
Plan Level of Personal Service

Select the level of service desired and change as needed.

1. Enroll and self-manage your own account at no charge.

2. Request assistance from TIAA for no cost phone advice.

3. Contract with a Registered Investment Advisor (RIA) acting as the fiduciary for your account.

Cost is 1% annually deducted from your account quarterly

Enroll directly with an approved provider or company representative.
Tax Penalty Premature Distributions No Yes

 

READ BEFORE OPENING A 403b/457b ACCOUNT

www.tiaa.org/public/tcm/neisd/home

457(b) Highlights

457(b) Supplemental Retirement Program

My Retirement Manager

Retirement Manager Instructions

403(b) Highlights

403b Provider List

 

TRS 403b INFORMATION:

What is a 403b?

403b Types of Plans & Companies

 

 

 

Updated: April 26, 2017