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- Class 2 (Fixed Term) employees are eligible for employer discretionary contributions to their Reliant's 403b403(9b) retirement account.
- Employer contributions are paid by Reliant to GuideStone directly out of the MTD account.
- These contributions are not a match and do not require that the employee contribute funds from their paychecks to receive the employer contribution.
- Employer (and employee) contribution amounts for Class 2 (Fixed Term) employees are determined by the employee's program leadership, up to 7% of the salary maximum, and are included in the employee's support goal.
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Yes, participants in the 403(b)(9) Plan are immediately 100% "vested," which means the employer contributions are fully transferable (into another retirement account with your new employer or an IRA), should you exit employment with Reliant. |
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The advantage of a 403(b)(9) plan versus personal investing or saving is the employer contribution does not get taxed (until you retire and withdraw it). So, the Employer Contribution enables you to save extra money (on top of any money you save through other methods) towards your retirement. It’s like opting to receive a special bonus every month that goes directly into your retirement savings account and that the government doesn’t tax you on (until retirement). Plus, 403(b)(9) Plans can often negotiate lower fees for the investments offered in their plans vs. the employees buying the same investments personally in their IRAs. 403(b)(9) Plans have the buying power of a larger group, so they're able to negotiate lower fees for the investments because they're buying in "bulk." It's kind of like shopping at a "big box" store. |
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