Content Overview 
- Summary
- Withdrawals For Hardship
- The Definition Of A 403(B) Plan Also Known As A "TSA"
- What Are The Benefits Of A 403B Plan?
- Limitation On The Amount Of Contributions To A TSA
- If You Have Been With The Organization For More Than 15 Years
- How Contributions To The Plan Are Made
- Permitted Investments For Money In A TSA
- Borrowing From A TSA
- If You Become Disabled
- If You Leave Your Employer Before Age 59 1/2
- If You Retire Or Leave Your Employer And You Are Older Than Age 59 1/2
- Forced Withdrawal Of Money From A TSA At Age 70 l/2
- What Happens To The Money In A TSA If I Die?
403(B)/ TSA Plans
What Are The Benefits Of A 403B Plan?
Next » « Previous4/14
A 403B Plan is an excellent way to put money away for retirement or disability. It may also be a source of cash in financial crisis.
The Benefits of a 403B plan include:
Saving pre-tax dollars.
- A 403(b) account, like a 401K Plan, or Individual Retirement Account, allows you to exempt part of your salary from current income taxes
Tax-deferred growth of your money.
A 403(b) account lets that money grow without paying any taxes on the earnings of growth until you take the funds out of the Plan.
Extra income.
Your employer can make additional contributions to your TSA account which are tax free to you.
Forced savings.
A TSA can help you save. The money is taken out before you receive your paycheck. For many people, money they never see is money they don't miss.
Professional investment management.
TSA plans allow you to invest in professionally managed annuities and mutual funds that you might not have access to if you were only depositing a little bit of money at a time.
- Available cash should you need it.
- Although you may have to pay penalties for making an early withdrawal or pay interest if you take a loan, you may be able to get your hands on the money when you need it (for instance, to pay for medical expenses).
Please share how this information is useful to you.
0 Comments
