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  1. Class 2 (Fixed Term) employees are eligible for employer discretionary contributions to their Reliant's 403(b) retirement account.
  2. Employer contributions are paid by Reliant to GuideStone directly out of the MTD account.
  3. These contributions are not a match and do not require that the employee contribute funds from their paychecks to receive the employer contribution.
  4. 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.

Frequently Asked Questions:

Do I get to take the Employer Contribution with me if I leave employment with Reliant?

 Yes, participants in the 403(b) 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.

How will Employer Contributions affect my paycheck and my support goal?

 Employer contributions are charged directly to the MTD account you are responsible for with Reliant. You will have to raise the extra money for the employer contribution, and it will increase your support goal. Employer contributions do not affect an employee's paycheck except that it will be deducted from the available balance in the MTD account that is used to determine how much funds are available for the employee's paycheck. 

How do I update my Employer Contributions?

 The Employer Contributions for Class 2 employees are requested and edited when updating your support goal. You can not update your employer contribution through GuideStone. The GuideStone site will not have the employer contribution amount listed, but it will show you the total year-to-date contribution made to GuideStone which will include both the employee and employer contribution amounts combined. Please reach out to your program team for assistance in making a change to the Employer Contribution.

What is the advantage of electing an Employer Contributions vs. personal saving in an IRA?

 The advantage of a 403(b) 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) 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) 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.  

 

Learn about employee contributions...

Are you a Class 2 (Fixed Term) employee? Know that your decision to raise for employer contributions as outlined above does not impact your decision to contribute to your retirement account as an employee from your paycheck. See Enrollment & Eligibility for more details.



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