Mason Expands Supplemental Retirement Program
Posted: February 26, 2010 at 1:02 am, Last Updated: February 25, 2010 at 4:40 pm
Human Resources and Payroll announced that the supplemental retirement program has been expanded to offer a Roth 403(b) option. The Roth 403(b) joins the traditional 403(b) and the 457(b) to offer both pre-tax and post-tax accounts.
A Roth 403(b) account allows participating faculty and staff members to designate some or all of their retirement contributions on an after-tax basis, rather than traditional pre-tax contributions. Interest and earnings on these contributions when withdrawn are generally tax free.
All Mason faculty and staff members may open supplemental retirement accounts and participate at the maximum level in both the pre-tax 403(b) plan and post-tax Roth 403(b) plan at the same time.
The Roth 403(b) can be a helpful tool in a comprehensive retirement plan, but it’s not for everyone. For more information on the new Roth 403(b) option, see the Roth 403(b) section of the Benefits web page. For more information, call the Customer Service Center at 703-993-2600 and ask to speak to a benefits administrator.
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