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Research shows that Americans are living longer and their number of years in retirement is increasing. While your TRS pension may be enough to cover expenses during your initial retirement years, the reduced monthly income may not be sufficient for costly factors such as medical bills, taxes, and your desired standard of living. Contributing to a retirement savings plan can help supplement your pension during retirement.

As an Eagle Mountain-Saginaw employee, you are eligible to contribute into a 457(b) or 403(b) account. Choosing to save with a 457(b) and/or a 403(b) allows you to save money in a pre-tax (Traditional) or after-tax (Roth) account. Contributions to the plan are salary-deducted from your paycheck and automatically deposited into your account. You may start and stop contributions at any time by completing an with OMNI, Eagle Mountain-Saginaw’s third-party administrator.

 403(B) SAVINGS PLAN

• Multi-vendor plan. You must research and select from a list of vendors.
• Investment options vary by vendor, including fixed/variable annuities, and mutual funds.
• 10% early withdrawal penalty (goes away at age 59 1/2 or age 55 if retired). Income tax may apply.
• Financial hardship withdrawals and loans may be available

To participate in a 403(b) you must contact an agent/representative at a District approved company to complete the required paperwork. A list of approved companies can be found on the Omni website at .

For information, contact Omni's Retirement Services Department at (877) 544-6664.

Important Forms & Information:

Omni Universal Availability Notice