Page 7 - 12202017 Bryant Test 2

403(B) – TAXSHELTER

A 403(b) Plan, also known as a Tax-Sheltered Annuity (TSA) plan, is a qualified
retirement plan that is available only to certain employees of public school systems,
community colleges, universities and certain tax-exempt organizations. The legislation
creating these tax-deferral plans originated in 1958 and specifically added public school
employees as eligible participants in 1961. As a result, these plans became regulated by
Section 403(b) of the Internal Revenue Code.

Employees can establish a voluntary 403(b) account and contribute a limited portion of
their salary, before taxes, through salary reduction. Participants can select from a list of
authorized providers that their employer has established on page 23, but please be aware
that the authorized list does not reflect any option as to financial strength or the quality of
product or service for any company. The products these companies provide are usually
standard interest annuities, equity index annuities, variable annuities and mutual funds.
The types of products the providers offer can vary depending on vendor. It is also
important to know that fees, surrender charges, operating rules and investment objectives
vary greatly among product vendors.

There are many benefits of participating in a 403(b) account. Among those benefits are the
following:

-
 Immediate Income Tax Savings your federal income tax withholding is reduced for
every dollar you deposit into your account. (applies to state income taxes in most cases)
-
 Pre-tax Dollars Deposited into Individual Accounts you own your account and
make all decisions concerning the amount of your retirement savings contributions.
-
 Convenience of Payroll Contributions your employer sends each contribution to your
provider company for deposit into your account.
-
 Flexible Contributions participants may change the amount of their contribution
during the year as allowed by their employer.

-
 High Annual Contribution Limits For 2018, participants can contribute up to $18,500
into their 403(b) account. Some employees may qualify for an age-based additional
amount and a service-based additional amount. Please see page 12 for specific
information regarding contribution limits.
-
 Flexible Loan Provisions IRS rules allow you to borrow from your account (if allowed
by the plan), with certain limitations, while you are working. These loans are free from
current taxation provided they are repaid in a timely manner. It is important to note
that some carriers do not offer loans or may further restrict the availability of this
feature.
-
 Benefits Paid to Your Beneficiary at Death all funds in your account are payable to
your beneficiary upon your death.

 Comparison Contribution Chart on page 12

7 | P a g e