403(b) Plan CTA
By taking advantage of the 403(b) services offered by NEA Member Benefits you'll be given the tools needed to create your own contribution schedule for a tax deferred, retirement savings account used by educators nationwide.
Why open a 403(b) retirement plan?
Automatic payroll deduction
Created with educators in mind, 403(b) contributions can be deducted from your paycheck, giving you a steady path to retirement savings.
Higher contribution limit
Contribution limits for 403(b) accounts are on par with 401(k) contribution limits and much higher than IRA contribution limits, making 403(b) plans a good choice for supplementing a pension plan.
Traditional and Roth savings options
Depending on your plan, you may choose to pay taxes when you contribute to your savings or when you withdraw after retirement.
Take it with you
If you change jobs, your 403(b) can be carried into a new district or rolled into an IRA or 401(k) (if offered by your new employer).
Secure your savings
Grow Tax Deductible or Tax Free
Using a financial advisor isn’t mandatory. One of the primary benefits to self-guided planning is the difference in cost. Over time, the amount saved in fees can amount to thousands, if not tens of thousands, over the decades.
A Safer Bottom Line
If you’re the type of person who wants to automate your savings, that’s still well within reach even with a self-guided retirement approach. Many investors find success by simply making monthly contributions to an index fund year after year.
Compare Your Approach
Benefits
- Low cost, low fees
- You’re in the driver’s seat
- Automate your savings (where available)
- Choose your contribution limit
- Save pre-tax or post-tax depending on your plan
- Mutual and Index funds available
Limitations
- Research and evaluate your options
- Manage your own investments
- Minimum deposit may be required
Benefits
- Tools, experience, and objectivity of a retirement expert
- Help understanding your true financial position
- Advice for big decisions
- Risk planning and help evaluating tax implications
Limitations
- Price and cost structure based on your needs and advisor level of input
- Compiling and sharing your complete financial situation
What to Expect During the Enrollment Process
Sign-in with NEA Member Benefits
Choose whether you want to work with a financial professional or enroll in a self-guided retirement plan. Your information will be shared with our partner Security Benefit to make enrollment easier for you.
Online enrollment with Security Benefit
Confirm your information and your earlier choices. Then, choose whether you would like to enroll in a 403(b) plan or an IRA. If you choose to work with a financial professional, Security Benefit will connect you with a NEA Retirement Specialist in your area.
Complete Enrollment in your Retirement Account
After all your online forms are complete, you’ll need to establish contributions into your new account. You can also rollover or consolidate accounts. If you choose to work with a financial professional, you’ll set up an account with that NEA Retirement Specialist.
Ready to get started?
If you have more questions or would prefer to enroll by phone
Please call Security Benefit at 1-888-988-7910