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403(b) and Roth 403(b) Voluntary Retirement Plan  

Welcome to your 403(b) and Roth 403(b) retirement plans. Click below to view the features and highlights of your employer’s retirement plans.

The plan highlights are only a brief overview of the plan's features and are not a legally binding document. The information in this section does not modify the terms of the plan and in the event of a conflict, the terms of the plan control.

You can join the plan immediately upon the date of employment. There is no age or service requirement for eligible employees to participate in the plan.

The plan does not allow participation by:

  • certain students
  • employees who normally work less than 20 hours per week

Both a traditional pretax 403(b) account and after-tax Roth option are available. 

Employee contributions 

Through payroll deduction, your plan allows you to make pretax and/or after-tax (Roth) contributions up to the maximum allowed by the Internal Revenue Code. You now have a choice regarding your elective contributions. You may direct all of your contributions to a traditional pretax account, to a Roth account, or to a combination of the two. Contributions to a Roth account are after-tax. Regardless of your election, you are subject to the annual contribution limits.

Contribution limit

If you have an existing qualified retirement plan (pretax) or 403(b) tax-deferred arrangement account with a prior employer, you can transfer or roll over that account into the plan on becoming a participant in the plan.

Catch-up contributions 

You may be able to contribute:

Catch-up contributions

Stop or change contributions 

You may stop your contributions anytime. Once you discontinue contributions, you may only start again as provided under the terms of the plan.

You can increase or decrease the amount of your contributions anytime. 


Vesting is a participant’s right of ownership to the money in his or her plan account. You are always 100% vested in employee contributions, and rollover contributions, plus any earnings they generate.


Money may be withdrawn from the plan in these events:

  • Reaching age 59½
  • Death
  • Disability
  • Severance from employment
  • Financial hardship (Hardship withdrawals may be made from salary reduction contributions only, not from earnings on those contributions).
  • Reaching age 72 (age 70½ if born before July 1, 1949)
  • Qualified birth or adoption withdrawal within one year from the date of birth or adoption (not subject to the 10% early withdrawal penalty).

Income taxes are payable upon withdrawal. Federal restrictions and a 10% federal early withdrawal tax penalty may apply if taken before age 59½. Be sure to talk with your tax advisor before withdrawing any money from your plan account.

Transfer or withdrawal restrictions on Fixed-Interest Option

A 20% annual withdrawal is allowed from the Fixed-Interest Option with no withdrawal charge. There are no transfer or withdrawal restrictions if one of the following conditions is met:

  • Annuity payout option is selected
  • Your death
  • Total and permanent disability
  • Withdrawal taken as a hardship under the terms of the employer plan
  • Retirement or separation from service from the employer who sponsors your plan
  • Elect to transfer a portion of the account value to a companion account for a loan

This restriction includes money transferred to mutual funds or to another provider.

Please note that other rules may apply to other fixed accounts in the plan.


The plan is intended to help you put aside money for your retirement. However, your 403(b) plan includes a feature that lets you borrow money from your account tax free without permanently reducing your account.

  • The amount the plan can loan to you is limited by rules under the tax law. All loans will be limited to the lesser of: one-half of your vested account balance or $50,000.
  • The minimum loan amount is $1,000.
  • All loans must generally be repaid within five years. A longer term of 15 years may be available if the loan is to be used to purchase your principal residence.
  • You pay interest back to your account. The interest rate on your loan will be the Prime Rate plus 1%.
  • A $50 processing fee for all new loans and a $50 per year loan maintenance fee are charged to your account.

Other requirements and limits must be met prior to borrowing money from your account. For additional information regarding loans, please see your financial professional. 


You decide how to invest your plan account, selecting from investment choices provided under the plan.

The wide array of mutual fund investment options available in your 403(b) retirement plan will provide you with the flexibility you need to create a suitably diversified portfolio that matches your personal retirement time horizon, investment risk tolerance and investment preferences.

To view or print a prospectus, access “Prospectuses and Other Important Materials.” The prospectus contains the investment objectives, risks, charges, expenses and other information about the respective investment companies that you should consider carefully before investing.

Please read the prospectus carefully before investing or sending money. You can also request a copy by calling 1-800-428-2542.