This video explains what retirement options are available to WCPSS employees….(read more)

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WCPSS 403b and 457: Retire with Peace of Mind

Have you ever thought about retiring and living the life you’ve always wanted? Most people do, but they don’t often consider the financial implications of their retirement years. If you’re a part of Wake County Public School System (WCPSS), you may be eligible to take advantage of the 403b and 457 plans, which are great retirement saving options.

What is the WCPSS 403b and 457 Plan?

The 403b and 457 plans are both retirement savings plans that allow employees to contribute a portion of their pre-tax income to a retirement account. The funds can be used for retirement expenses, including medical costs, travel, and other expenses that may arise during retirement.

One significant advantage of these plans is that employees can choose when and how much they want to contribute to the account. The contributions are then invested and yield returns, which are compounded over time. In addition, employees can also make withdrawals from their accounts after retirement without penalty.

What are the Benefits of WCPSS 403b and 457 Plans?

The WCPSS 403b and 457 plans provide employees with several key benefits that can help them save money and plan for their retirement years.

First, both plans are tax-deferred, so employees can avoid paying taxes on the contributions and investments they make. This means that more of their income can be invested, which will compound over time and produce more significant returns.

Second, both the 403b and 457 plans offer many investment options to choose from. These options are designed to help employees invest in a balanced portfolio that is tailored to their risk tolerance and retirement goals.

Finally, both plans are portable, which means that employees can take their retirement savings with them if they leave WCPSS or retire. This provides peace of mind to employees who want to ensure that they are taking care of themselves and their families during retirement.

How to Enroll in WCPSS 403b and 457 Plans?

Enrolling in WCPSS 403b and 457 plans is relatively easy. You can enroll directly with the vendor chosen by the school district. The enrollment process can be done online or through a representative.

Once enrolled, you can choose the type of investment options you want to put your funds toward. If you’re unsure where to start, it’s always best to consult a financial advisor or talk to the vendor to get as much information as possible.

Conclusion:

The WCPSS 403b and 457 plans are great retirement savings options for WCPSS employees. These plans offer the flexibility to choose when and how much to contribute to the account. They also provide the opportunity to invest in a balanced portfolio and enjoy tax-deferred investment returns. The portability of the plans is an added benefit that provides peace of mind to employees planning for their retirement. If you haven’t already enrolled in these plans, it’s time to start thinking about retirement and planning for the future!