Page 14 - LADACIN 2022-23 Benefit Guide

403(b) Retirement

Savings Plan

403 (b) PLAN
LADACIN’s 403(b) Retirement Savings Plan gives you an
easy way to save for your future through payroll
deductions.

It’s up to you to make sure you’ll have a comfortable
retirement. In many instances, Social Security will not
provide you with as much money as you were earning TUITION REIMBURSEMENT PLAN
before you retired. Also, many Americans are living longer, LADACIN Network provides reimbursement for college
healthier lives and may need a bigger nest egg in their courses taken at an accredited institution in order to
retirement years. A 403(b) retirement plan and Pension encourage staff to further their education. Employees who
plan allows you to build retirement savings by setting aside wish to attend college must obtain a form for approval
a portion of your pay on a pre-tax basis. Earnings will not be PRIOR to initiating the course. Forms may be obtained from
taxed until withdrawal and include loan provisions. Mass your supervisor. A description of the course must be
Mutual maintains our current program. attached.

AUTO/HOMEOWNERS PLAN Approval for reimbursement must be received from the
Employees of LADACIN Network are eligible to apply for appropriate Director and Executive Director prior to
Personal Automobile Insurance coverage and Home the initiation of classes. The benefit will pay up to $600 per
Owner’s Insurance coverage directly through NJM, New semester (to a maximum of $1,200/year) for a course of
Jersey Manufacturers Insurance Company. study related to LADACIN Network’s employment. To
qualify, one must attain a “C” in the course.
LADACIN Network makes this available to employees with
the understanding that transactions between the employee
and NJM are the sole responsibility of the employee.

LADACIN Network’s membership number is: 64254

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