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University Newsletter

Plan For Your Future with a 403b retirement Plan

Secure Your Future Today with the 403(b) Deferred Compensation Plan!

Are you saving enough for the retirement you envision? Standard pension or baseline retirement plans are a great start, but taking advantage of our 403(b) Deferred Compensation Plan can help you bridge the gap and reach your long-term financial goals faster.

Why Consider a 403(b) Plan?

• Tax Advantages: Choose between Pre-Tax contributions (lower your current taxable income now) or Roth contributions (enjoy tax-free withdrawals in retirement).

• Automated & Flexible Savings: Contributions are automatically deducted directly from your paycheck. You can start, stop, increase, or decrease your contribution amount at any time.

• Higher Contribution Limits: Save beyond standard IRA limits, allowing you to build your nest egg much faster.

• Diverse Investment Choices: Access a wide variety of mutual funds and index options tailored to your personal risk tolerance and timeline.

How to Get Started

Taking control of your financial future takes just a few minutes:

1. Review Options: Visit the Benefits website and click on the "Retirement" tab  select 403(b) Universal Availability Notice to compare investment providers and plan details.

2. Choose Your Contribution: Decide how much you want to set aside each pay period.

3. Enroll Online: Complete your enrollment form directly through our online benefits portal by completing the Salary Reduction Agreement (SRA).

Ready to maximize your savings? Contact the Benefits Office at benefits@eiu.edu / (217) 581-5825 with questions. Or visit https://www.eiu.edu/humanres/benefits/403b.php to enroll!