Voluntary Retirement Overview
Options for Voluntary Retirement
403 (b) Traditional, Roth & 457(b) Deferred Plans
MCSD offers three different options of supplemental retirement savings plans in addition to the state retirement plan to all employees*.
1) Quick Enroll Plan(b)
Quick Enroll Plan(b) is a simplified voluntary retirement savings plan. You do not have to make an investment decision immediately and your contribution for this plan is deposited into a Guaranteed Income Fund (GIF), which has a guarantee of principle and interest crediting. Get started with Plan(b), the earlier you start saving for retirement, the better!
Plan(b) is as Easy as 1,2,3
- Log on to the website at http://bit.ly/Martin-FL
- Enter basic Information
- Choose your initial amount (you can make changes at any time)
2) Traditional Pre-Tax
The Martin County School District provides the opportunity for eligible employees* to make tax-sheltered investments through payroll deductions in accordance with Internal Revenue Code 403(b) & 457(b). You will not have to pay federal income tax on the money you invest until the money is withdrawn. This is a smart way to save money for retirement.
3) Roth Post-Tax
Roth plans allow you to invest funds from your salary on a post-tax basis. Your investments will grow tax-free and you will not have to pay any income tax on the investments or profits when the funds are withdrawn after you retire or otherwise qualify. Most of the vendors on this page also administer the Roth plans.
Please visit: www.tsacg.com/individual/plan-sponsor/florida/martin-county- school-district for a complete listing of what program each vendor offers.
Please watch this video on why voluntary retirement savings may be the right decision for you: https://youtu.be/k7cobMsZ3HI
These plans allow employee to:
- Strengthen employee's financial future
- Contribute through payroll deductions
- Save for retirement with tax advantages
- Take it with employee upon termination from MCSD
- Visit the TSACG website for information on:
- Video – an overview of the plans and FAQs
- Approved investment providers
- Exchanges or transfers
- Loans and rollovers