403b Plan Administration

403b Plan Administration

 

GLP Strategic Administrative Group, LLC was formed specifically to provide district compliance with the new IRS 403(b) regulations. Universal common remitting, third party administration, investor education and full back office support provided by our capable and experienced staff. All services are performed at our local offices at no cost to the employer.

What is a 403(b) plan?

A 403(b) plan is a tax-deferred retirement account available to educational employees (teachers) and employees of certain non-profit organizations. As a participant, you may elect to contribute as much as $16,500 or more ($22,000 if age 50 or older) to your plan. Your contribution reduces current taxable income and the earnings in the plan grow tax-deferred. In other words, you pay no income tax on your contributions or earnings until you “retire.” Retirement withdrawals are taxed at ordinary income rates provided you are over 59 ½.

Please complete your RETIREMENT SYSTEM INFORMATION SHEET. To get started, select the State in which you are employed: