403(b) PLANS
403(b) Accounts
Employees of education institutions and 501(c)(3) nonprofit organizations have a unique opportunity to regularly set aside money for their retirement through a tax-sheltered investment. This long-term retirement program, funded through payroll deduction, is called a 403(b).
403(b) Features and Benefits
Tax-deferred earnings. You do not pay taxes on the earnings in your 403(b) until retirement or withdrawal.
Reduction of current federal income tax. Because 403(b) contributions are made with pre-tax dollars, they are excluded from your current taxable income, which means you'll pay less in current federal income tax as well as most states' income taxes.
Variety of investment options. You can invest your 403(b) funds in mutual funds and fixed and variable annuities.
Low-cost loans. Most 403(b) plans allow you to borrow from the plan at a low interest rate.
No reduction in other retirement benefits. You receive 403(b) benefits in additional to your pension and Social Security benefits, which are not affected by your 403(b) contribution.
Portability. When you receive a distribution from your 403(b), you may elect to roll the distribution into an IRA, another 403(b) program or the plan of a subsequent employer.
We specialize in providing retirement planning services and one of our financial professionals looks forward to helping you explore the opportunities a 403(b) retirement investment plan offers.
Enroll In The Plan - 5 Easy Steps
1 - Tell Us About You
The Profile form below gathers your necessary information to establish your account.
2 - Tell Us About Your Beneficiaries
Designate your beneficiary or beneficiaries using the form below.
3 - Tell Us How Much You Wish To Contribute
You may contribute an ongoing percentage of your compensation, or a specific dollar amount per pay period. With a percentage contribution, your contribution adjusts accordingly if you work more or less in a pay period. Click the button below to tell your employer how much to withhold from your paycheck.
4 - Tell Us How Much Risk You Wish To Take
Complete the Risk Questionnaire below to help determine how much risk matches is right for you. A Financial Advisor will review the results with you.
5 - A Member Of Team Will Contact You Soon To Finalize Your Enrollment
Thank you for completing the necessary steps above. Financial Advisors at Knox Financial Services will review your information, finalize the necessary enrollment process. A member of our Team will contact you soon!