• Retirement Planning

    Research shows that Americans are living longer and their number of years in retirement is increasing. While your TRS pension may be enough to cover expenses during your initial retirement years, the reduced monthly income may not be sufficient for costly factors such as medical bills, taxes, and your desired standard of living. Contributing to a retirement savings plan can help supplement your pension during retirement.

    As an Eagle Mountain-Saginaw employee, you are eligible to contribute into a 457(b) or 403(b) account. Choosing to save with a 457(b) and/or a 403(b) allows you to save money in a pre-tax (Traditional) or after-tax (Roth) account. Contributions to the plan are salary-deducted from your paycheck and automatically deposited into your account. You may start and stop contributions at any time by completing an online salary reduction with OMNI, Eagle Mountain-Saginaw’s third-party administrator.

     403(B) SAVINGS PLAN

    • Multi-vendor plan. You must research and select from a list of vendors.
    • Investment options vary by vendor, including fixed/variable annuities, and mutual funds.
    • 10% early withdrawal penalty (goes away at age 59 1/2 or age 55 if retired). Income tax may apply.
    • Financial hardship withdrawals and loans may be available

    To participate in a 403(b) you must contact an agent/representative at a District approved company to complete the required paperwork. A list of approved companies can be found here on the Omni website at www.omni403b.com.

    For information, contact Omni's Retirement Services Department at (877) 544-6664.

    Important Forms & Information:

    Omni Universal Availability Notice

    Omni 403(b) Salary Reduction Agreement Form (SRA)
     

    Financial Wellness Center: https://www.usrbpfinancialwellness.com/
     
     

     

    457(B) SAVINGS PLAN

    • Fiduciary oversight by Cetera Investors financial advisors, Clint Muirhead and Ryan Kelley
    • High-quality, low fee investment options – target date funds, risk-based portfolios, exchange traded funds (ETFs) and mutual funds
    • No federal penalties to withdraw funds from account before retirement age. Income tax may still apply.
    • Financial hardship withdrawals and loans may be available

    For questions regarding the 457 plan, you can contact:

    Clint Muirhead (817) 870-1130  extension 122 or clint.muirhead@ceterainvestors.com

    Ryan Kelley (817) 870-1130 extension 115 or ryan.kelley@ceterainvestors.com

    Visit https://teammuirhead.ceterainvestors.com/ for more information and resources.