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403b Questions (9)

Just like an apple can supplement your diet, a 403(b) can supplement your retirement.

  • What is a 403b?
  • How Does the 403b Work?
  • Can I Take a Loan with a 403b?
  • Are 403's Beneficial?
  • Will I Get Social Security?
  • What Does TSA Stand For?
  • Who Can Contribute to a 403b?
  • Do I Have to Pay for Your Services?
  • How Do I Start a 403b?
A 403(b) is much like a 401k or a 457. The 403(b) gives you an added vehicle to save, and store money that is tax deferred until you ultimately decide to retire.
403(b) works much like a 401k or 457, in that you are able to put money away in a tax-deferred account that you will be able to access when you do in fact retire. The money is taken directly pre-tax from your paycheck and goes through a third party administrator (TPA), from the TPA it goes to the annuity carrier of your choice.
We all know that sometimes the times are tough and life is hard. The 403(b) is one of the few investment vehicles that encompass loan provisions.
403(b)s are very beneficial for your future. More often than not, most people know someone that retired and, then to no avail, had to come back to the workplace only a year or two later, because they couldn’t afford not to. The 403(b) was put into place so that you have the opportunity of saving added dollars, which will contribute to the amount that you will receive after you retire.
Unfortunately, because teachers and school districts make no contributions to the Social Security, they are unable to receive it. Educators and employees within the school system are not eligible to receive Social Security. More importantly, and what is most commonly misunderstood, if you are married, and your husband or wife contributed to the Social Security system and they pass away, you will not be able to receive your spouse’s Social Security benefits.
TSA stands for ‘Tax Sheltered Annuity.’ Simply put, it means that you do not pay taxes on the money going in or the interest gained. However, if you pull the monies out early, or start to take distributions at retirement, you will be required to pay taxes on the monies distributed, not the full account value.
As long as you are an employee of a tax-exempt organization, established under section 501(c)(3) of the Internal Revenue Code, you are able to participate in the 403(b).
No, our service costs you absolutely nothing.
Call American Teachers Retirement Services, LLC. (972-562-0362), to meet with an agent and get your questions answered by a professional.

TPA Questions (7)

In 2007, the IRS created a ruling that made the insurance carriers and the school districts communicate about your 403(b) account. Due to the change in the law TPAs were created. School districts did not have the time or the funds to maintain a relationship between both the employee and the insurance carrier.

  • What is a TPA?
  • What is the Process of Starting a 403b?
  • I Want to Increase the Amount That I am Putting into my 403b, How Do I Do That?
  • How Do I Change my Password?
  • If I Want to Take Out a Loan How Long Will it Take to Recieve a Check?
  • How Long Does it Take to Transfer Funds from My Previous Carrier?
  • When Do I Have to Fill Out Paperwork?
TPA stands for Third Party Administrator. The TPA oversees some of your benefits including 403(b)s, and some districts allow their TPA to oversee their Section 125 cafeteria plan.
Once the application is completed and submitted to the insurance company, your information is sent to the TPA your district has selected, authorizing the TPA to take the agreed upon amount out of your paycheck. Once the TPA has received the funds from the school district those funds are then sent to the annuity provider. The annuity provider will then place those funds within your account.
It is best if you contact ATRS, LLC. to increase your contributions. There are several websites that you must go to and boxes to click, and if you do not do it appropriately, you could possibly mess up the amount that you are putting in, or worse delete the whole account.
It is best if you contact ATRS, LLC to change your password. Again, it is very sensitive and it works best if you have someone that is experienced walking you through the steps.
The IRS ruling has changed the way 403(b)’s work, and loans are of no exception. Loans now take at a minimum of 30 days to complete.
TSA stands for ‘Tax Sheltered Annuity.’ Simply put, it means that you do not pay taxes on the money going in or the interest gained. However, if you pull the monies out early, or start to take distributions at retirement, you will be required to pay taxes on the monies distributed, not the full account value.
As long as you are an employee of a tax-exempt organization, established under section 501(c)(3) of the Internal Revenue Code, you are able to participate in the 403(b).
Transfers are of no exception to the ruling either. Transfers typically take 45-75 days depending on the annuity carrier.
The TPA requires original paperwork when you complete a loan, transfer, or surrender. The TPA has to approve the loan, transfer, or surrender. After they have stamped their approval on the paperwork, it can then go to the annuity carrier, where they will either send out the transfer paperwork or complete the loan or surrender.