Investments 403(b) & 457(b)
As a qualifying employee, you have the opportunity to participate in a 403(b) and/or 457(b) available to you through McAllen Independent School District. The Teacher Retirement System and Social Security often do not adequately replace a person’s salary upon retirement. A 403(b) and/or 457(b) can be a great way to supplement your income at retirement. A 403(b) and/or 457(b) allows you to contribute a portion of your compensation as a pre-tax or post-tax contribution. Participation is completely voluntary and it is not subject to annual enrollment periods. You may start, cancel or change a 403(b) and/or 457(b) election anytime during the year. With this in mind, employees should plan to have at least two other sources of income in retirement. We call this the “three-legged stool” of retirement income. For additional information, contact the Employee Benefits Office 956-618-6007.
Find out more about the 403b and 457 Plans visit the TCG website below:
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