As a GW employee, you are eligible to contribute to the university’s 403(b) Retirement Plan. You may choose to contribute a percentage of your pay either pre-tax or post-tax Roth or both to your account. The main difference between the two options is when you pay taxes on those contributions:
- Pre-tax contributions reduce your taxable income in the year you contribute to the Plan, but taxes are withheld when you withdraw the funds after retirement.
- Post-tax Roth contributions are included in your taxable income in the year in which you contribute to the Plan, but are tax-free when you withdraw the funds after retirement.
Not sure which contribution option(s) is right for you? See resources below from Fidelity and TIAA or schedule a 1×1 appointment:
- Fidelity: Roth 403(b) option offers the potential for tax-free retirement income
- TIAA: The Roth contribution option – Another way to save for retirement
TIAA and Fidelity continue to offer remote retirement counseling appointments to assist you in navigating your retirement savings options. To schedule, call your preferred provider or use the online booking systems:
- Fidelity Investments – Make an or call 800-642-7131
- TIAA – Make an appointment online or call 866-843-5640
