Employers generally provide a basic retirement plan for you that is either a 401(a), 401(k), 403(a), or 403(b) plan with an employer matching component.
What you need to know:
Today, retirement is a journey – a time to explore new possibilities and a time that could last for 30 years or more. To help ensure you don’t outlive your income, consider the following:
Eligibility and contribution rules for different retirement plans
If you plan to speak to an advisor about your retirement savings options, review the following information to help you prepare for a consultation by explaining eligibility and contribution rules for different retirement plans:
1Any employee contribution is directed to a 403(b) plan rather than to a 401(a) or 403(a) plan.
The tax information contained herein is not intended to be used, and cannot be used by any taxpayer, for the purposes of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Examples included herein are hypothetical and for illustrative purposes only.
Advisory services are provided through Advice and Planning Services, a division of TIAA-CREF Individual & Institutional Services®, LLC, a Registered Investment Adviser. TIAA-CREF Individual & Institutional Services®, LLC, also distributes securities and provides additional brokerage services in its capacity as a registered broker/dealer, member FINRA. TIAA-CREF Trust Company, FSB provides investment management and trust services.
TIAA-CREF provides retirement plans at more than 15,000 nonprofit institutions.