With the hurried pace of our everyday lives, it is difficult sometimes to slow down and plan for the future. Although retirement may seem far away, actions you take today can make a big difference when you retire.
PfISD offers retirement programs to its employees through the use of 403(b) tax-deferred annuities and 457 deferred compensation and Teacher's Retirement System. These plans allow employees to save designated amounts out of their paychecks before tax and place them into a variety of mutual funds; variable annuities and fixed annuities. Any earnings grow tax deferred until withdrawn and are intended to supplement your TRS Pension Plan.
TRS administers a defined benefit retirement plan that is a qualified pension trust under Section 401(a) of the Internal Revenue Code. The pension trust fund provides service and disability retirement, as well as death and survivor benefits, to eligible Texas public education employees and their beneficiaries.
All eligible PfISD employees contribute to the Teacher Retirement System of Texas. TRS Contact Information: 1-800-223-8778 (toll free) or 512-542-6400This plan allows employees to save designated amounts out of their paycheck "before tax" and place them into a variety of mutual funds; variable annuities and fixed annuities. All funds grow tax-deferred until withdrawn and are intended to supplement your TRS Pension Plan. To participate in a 403(b) you must contact a financial advisor of your choice. If you have any questions regarding your 403(b) account, you should contact TCG Advisors at 403b@tcgservices.com.
Deferred Compensation is an excellent way to provide maximum retirement income for employees. Section 457 of the tax law allows you to contribute pre-tax dollars to your supplemental retirement program. This voluntary plan allows you to withdraw funds at the separation of service or retirement before age 59 1/2 without the 10% IRS penalty tax. You can select from a wide choice of investment options including variable and fixed annuities as well as mutual funds. To participate in the 457 plan, you must contact a financial advisor of your choice. If you have any questions regarding your 457 account, you may contact TCG Advisors by email at 457b@tcgservices.com.
PfISD's Third-Party Administrator:
TCG Administrators 900 South Capital of Texas Highway, Suite 350 Austin, TX 78746 ATTN: Contributions Phone: 800-943-9179, Monday - Friday from 8:00 am - 7:00 pm.Instructions for using the TCG website
a. Username will be your Social Security Number (no spaces or dashes): #########
b. Password will be your date of birth (MMDDYYYY): ########
You will be required to change these after you log onto the website for the first time. If you have any problems, please call TCG.
Click FORMS in the upper right corner of the page
Enter the district's name and click SEARCH
Click on 403(b) Admin tab
Under PLAN DESCRIPTION click on 403(b) Admin Approved Vendor List
This will list all the vendors that are available in your 403b plan along with each of their contact information.
