457 Deferred Compensation Program
Nothing is more powerful than starting when you’re young!
But, it’s never too late to start investing for your retirement.
http://www.region10rams.org/services-457b-about

What Is a 457(b) Tax Deferred Compensation Program?

• A 457(b) is a special type of retirement savings for government organizations

• Employer sponsored supplemental retirement program

• Contributions are made by salary reduction

• Exclusively offered by JEM Resource Partners and managed by the Region 10 457 Cooperative and Master Plan and Trust that is offered to public school districts and educational agencies throughout the state.

YOUR FUTURE AT A GLANCE:

• Do you know much money you will need at retirement?
• Do you have a plan on how to accumulate that amount?
• Do you have the ability to carry out your savings plan?
• Do you have the expertise and knowledge to review your financial future every year?

NOW ASK YOURSELF:

• Will my TRS benefit meet my financial needs at retirement?
• How can I supplement my retirement income?
• When should I start?

How do I start?

HOW TO SAVE FOR YOUR FUTURE:

Developing a plan is the key.

People with a financial goal are more disciplined in saving for the future.

Research your options.

Always start with your pre-tax options and take advantage of reducing income taxes each pay-period.

Carry out your plan.

Reassess your plan every year.

A Tax Deferred Compensation Plan is available to employees of El Paso Independent School District.  EPISD has partnered with JEM Resource Partners to offer employees an alternative way to tax defer compensation for retirement.

Who Should Participate?

All employees of the District should supplement his/her Teacher Retirement System Account.  Careful planning for your retirement years should begin early so that your money can work for you and your financial future. 

Key Factors in Planning for Your Retirement

• Experts are now recommending that families aim for a comprehensive retirement savings that would provide the equivalent of 90 -100% of pre-retirement income, with the increase in cost of living factor included

• TRS will be your safety net at retirement, but it will not cover your financial needs

• The average person will live 20 years or more in retirement

• You do not need a lot of money to save money.  Small amounts of money over time will add up

JEM Resource Partners provides low-cost, high-value services to 457(b) tax-deferred savings plans to make saving for your future as inexpensive and convenient as possible.

Do You Know How Much You Can Reduce Your Taxable Income And Also Compound Your Retirement Savings?

Save More and Take Home More!

All contributions are deducted from your paycheck before income taxes are withheld.  For the tax year in which you contribute, your income may fall in a lower tax bracket, resulting in lower taxes paid to the IRS.  Contributions grow tax-free and any earnings are also tax deferred until they are withdrawn.  You will usually be in a lower tax bracket at retirement.

How To Get Started With The 457 Deferred Compensation Plan?

• Call JEM Resource Partners toll free at 1-800-943-9179.
• Remember you have various investment options.
• Enroll for the voluntary 457 Plan at any percent of annual salary up to the 2012 Maximum limit of $17,000, or the 2013 Maximum limit of $17,500.
• There are other contributions available under special circumstances: 
• Catch-Up >50 Provision allows you to contribute an additional $5,500 if you are over the age of 50.

After You Have Started

Ensure the proper deduction is taken from your paycheck

Review your quarterly statements provided by JEM to ensure credit for all contributions. You may do this on-line by going to:
 

http://www.region10rams.org/contact

Cancellation of any contributions not yet deducted must be requested through JEM Resource Partners. 1-800-943-9179 or log-in by going to:
 

http://www.region10rams.org/contact