Types of 403B Plans
Choose the Right Option for Your Needs
Traditional 403B
Traditional 403B plans allow for pre-tax contributions, reducing your taxable income for the year. The funds grow tax-deferred until withdrawal.
Roth 403B
Roth 403B plans allow for after-tax contributions. The funds grow tax-free, and withdrawals in retirement are also tax-free, provided certain conditions are met.
Benefits of Tax-Free Retirement Accounts
Why Choose Tax-Free Retirement Accounts?
Tax Advantages
Contributions are made pre-tax, reducing your taxable income, or as Roth contributions, allowing for tax-free withdrawals in retirement.
Employer Contributions
Many employers offer matching contributions, helping you grow your retirement savings faster.
Flexible Investment Options
Choose from a variety of investment options, including mutual funds and annuities, to tailor your retirement savings to your financial goals and risk tolerance.
Catch-Up Contributions
If you are 50 or older, you can make additional catch-up contributions to boost your retirement savings
How 403B Plans Work
Process Description:
- Enrollment:
Enroll in your employer’s 403B plan through your HR department. Choose between traditional and Roth contributions based on your tax planning strategy. - Contributions:
Contribute a portion of your salary to the 403B plan. Contributions can be made pre-tax or as Roth after-tax contributions. - Investment:
Invest your contributions in a range of options, including mutual funds and annuities, to grow your retirement savings. - Withdrawals:
Withdraw funds from your 403B plan during retirement. Traditional 403B withdrawals are taxed as ordinary income, while Roth 403B withdrawals are tax-free, provided certain conditions are met.
- Enrollment:
Our 403B Plan Solutions:
At Joy Enterprises, we offer a variety of 403B plan options tailored to meet your retirement goals. Our experienced advisors will help you select the right plan and create a personalized strategy to maximize your savings and ensure a comfortable retirement.”
“Joy Enterprises helped me understand my 403B options and choose the best plan for my retirement. Their advice has been invaluable.”
Contact Info
-
2227 Bel Pre Rd, Suite 144
Silver Spring, MD 20906 - (301) 379-6187
- IUL101@joyenterprises.us
- Mon - Sat 09:00 - 17:00
Ready to Secure Your Retirement?
Schedule a free consultation with one of our experienced advisors today to find out how our 403B plans can help you achieve financial security and peace of mind.
