When buying insurance policies you often have choices between different types of coverage. 

Coverage typically starts with a basic plan and then you have options to upgrade your coverage to add additional features for an additional cost. 

We've tailored a checklist for your Retirement Plan this year using this theme of insurance coverage packages. 

For every "coverage" package you review & you complete, please fill out the google form and you will be entered in a drawing for gift card drawings.

Every year it's helpful to take time to log in to your 403(b) account with Principal and review these things. 

• Is my beneficiary info up to date? If not, see Changes to Beneficiaries.
• Is the amount I'm contributing from my paychecks into the 403(b) Plan what I expected it is or not what I want it to be? If not see Changes to Contributions.
• Am I happy with my investment performance? If not, see Changes to Investments to make changes or set-up a free consultation with our 403(b) Plan Financial Advisor Michael Clark.

Employees of Reliant have two options for an employer contribution, based on their employee type and fundraising goal model.

In both cases, the funds used for the employer contribution are raised as a part of the employee's goal.

Find the option below that best fits your role and review the steps we recommend to ensure you're getting the best benefit for your situation.

• Career employees are eligible for a 5% employer-match.  If you are not contributing 5% of your eligible wages to 403(b) then you are missing out on the opportunity be matched 5% and increase your retirement savings. Review your budget and consider increasing your personal contribution if this applies to you, to ensure you're getting the maximum 5% match benefit. 
• Fixed term employees - This class of employees have a special 

One "pro" of a 403(b) plan is that it isn't subject to some compliance rules that 401(k) plans have. What this "pro" means for Reliant is that we can customize our plan for different program teams based on the unique needs of those groups of employees. For example, we're varying eligibility rules and the employer contribution for Fixed Term employees in residency programs vs our more traditional "career" employees. This flexibility will allow those different types of employes to have a retirement plan that is customized for them, rather than being forced into a "one size fits all" plan like our previous 401(k), due to the compliance rules associated with it. Another "pro" is the built-in parsonage withdrawal option (mentioned in Answer 3 above). One "con" of a 403(b) is certain types of investments are restricted from being offered within a 403(b).  We researched our current investment options with our retirment plan broker, Michael Clark, and he felt confidant the offerings we currently have and any future investment options that we'd want will still be available under the 403(b)(9). Another con is sometimes 403(b) plans have higher fees but, we have been assured our fees with Principal won't be affected by this change.    

No, there is no change to part-time employees' eligibility. Part-time employees will be eligible for the 403(b)(9) plan the same as they are for the 401(k) plan.