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It's NOT gong to be your parents' retirement at 65 with a gold watch, a guaranteed pension, and health insurance for life. For many of us, retiring in this new century is a mystery. According to a survey done by the Employee Benefit Research Institute, only 42 percent of Americans have tried to calculate how much they need to save for retirement. The main thing is to quit worrying and start planning, you're facing a retirement that's probably going to be longer than your parents' and will involve more uncertainties. Stop worrying and start figuring. Not only will you come up with the facts to work with, the chances are good you might change the way you save. The survey mentioned above also found that 44 percent of people who tried to figure out their financial futures end up changing their retirement savings plans.
Because you work for a public school, a 403b is a great way to save for retirement. The 403b plan is an employer-sponsored supplemental retirement savings plan that, similar to a 401k plan, allows employees to contribute on a pre-tax or a Roth(after-tax) basis. A 403b plan can only be sponsored by a public school or a 501 (c)(3) tax exempt organization.
The following companies offer 403b plans for the school district employees:
AXA Equitable- www.axa.com or call Jean M. Christie @ 229-403-1623 jean.christie@axa-advisors.com
Bencor- www.bencor.com or contact David Adel @386-365-4448 biggator76e@yahoo.com
Horace Mann- www.horacemann.com or contact Wendy Varnum @ 850-769-8030
Plan Members- www.planmember.com/beasom call Bradley Easom @352-229-6016 or Toll Free 800-465-7354 beasom@planmembersec.com
Voya- www.voya.com or contact Pat and Elmer Coker @ 850-578-2011