Attached please find a quarterly newsletter (English and Spanish versions) from CBIZ, an advisor to the CSD Retirement Trust. The trust offers additional retirement savings through IRS sections 403(b) and 457(b). These are voluntary plans above the PSRS and PEERS retirement contributions required by state law. Also included at the end of the newsletter is a performance report on the available investments in these plans.
Keep in mind that these voluntary contributions can be deducted from your paycheck pre-tax; for example a $50 contribution per paycheck will only decrease your net pay $36 - $42.50 due to tax benefits, depending on your tax bracket. Or, they can be deducted after-tax into a Roth 403(b) or 457(b). Anytime is a great time to meet with a VALIC advisor and discuss your options regarding long-term personal financial planning. However, with the new tax laws, this may be the perfect time! The district makes this benefit available to its employees to aid you in meeting your personal financial goals. There are numerous investment choices to suit your risk tolerance. And, the fees are very low compared to other retirement vehicles or annuities you may be investing in currently. Lower fees can lead to more savings when you retire.
The advisor is here to educate employees, and not pressure you into contributing. However, most financial advisors agree that contributing something into a retirement account, no matter how small, as early in your career as possible, provides the most funds later in life Therefore, retirement savings provide you with the most flexibility and options. You can also use these contributions to purchase additional credits with PSRS and PEERS. Many employees find this option invaluable related to retirement planning. In addition, the advisor can assist you in other financial planning besides these retirement savings plans (wills, trusts, social security benefits, etc.). some which you probably have never thought of. Please take advantage of this extraordinary benefit provided to you by Ritenour School District.
We hope you find these documents useful for your personal financial planning. Saving even a little every paycheck can really add up over time. It’s never too early, or too late, to start saving. Pay yourself first before the IRS!
If you’re not currently participating in the CSD Retirement Trust and would like more information and discuss your options, please contact the VALIC representative assigned to Ritenour School District: