Invest in Your Future
Building your retirement future
403(b) Tax-Sheltered Plan
- Plan Highlights: Enroll and manage your account from the App or desktop portal at any time.
- Contributions are 1% up to 90% per paycheck, not to exceed $23,000 per year ($30,500 for those age 50 and older).
- Employer match based on years of participation.
- Administered by Transamerica Retirement Solutions.
- Call (800) 755-5801 or visit Transamerica (must be launched in Google Chrome) to enroll.
Traditional (pre-tax)
Pre-tax means your contributions are taken from each paycheck before taxes are withheld. This lowers your taxable income so that you pay less in federal and state taxes. However, you will be taxed once you withdraw your money in retirement.
Roth (after-tax)
Roth contributions are deducted from each paycheck after taxes are withheld. If you withdraw the money five (5) years after the first Roth deposit and you’re over age 59½, no taxes are owed on either the principal or interest earned. This is a great option if you expect to be in a higher tax bracket when you retire.
Employer match
Here's how it works
If you are not already an active participant in the Pension Plan, Community will begin contributing a matching contribution after you have met the eligibility requirements of one (1) year of service with at least 1,000 hours worked. Your match entry commencement date will be the next following January 1 or July 1 after the eligibility requirements have been met.
Community will contribute each pay period as long as you are contributing at least 2% of your pay. Community’s contribution will be based on your years of participation as follows:
Years of Participation
Under 5
5-9
10-14
15+
Community Contribution
5%
6%
7%
8%
Investments
Community has partnered with Transamerica Retirement Solutions as our retirement funds manager, giving you the flexibility to proactively manage your accounts through a variety of employee-selected fund options. Alternatively, you can choose a retirement date-based approach. Transamerica also lets you set up a Schwab Personal Choice Retirement Account (PCRA) for even more fund choices. Visit Transamerica for personalized help with your retirement planning.
Financial advice
Choosing the right investment options is one of the most-important actions you can take. If you have any questions, free advice is available through our partners at UBS by calling (888) 809-0080.
Help with your retirement planning
Transamerica offers personalized, managed advice. Visit Transamerica to learn more.