Understanding Your 403(b)

Teachers’ 403(b)/Tax Sheltered Annuities Retirement Plans

403(b) retirement plans are utilized by tax-exempt organizations in the same manner that 401(k) plans are utilized by the private sector; e.g., corporations and business owners.  Because annuities, which are offered by insurance companies, were the original investment vehicle used by most public schools, teachers often refer to their 403(b) plans as Tax Sheltered Annuities or TSAs.  

The advantages of participating in a 403(b) retirement plan are:

  • Employee contributions are tax deductible;
  • Investments grow tax-deferred, resulting ...
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Illinois Pension Payouts Will Exceed Education Funding by 2016

Narrator Salman Khan illustrates, via video, Illinois’ pension crisis. He lays out how Illinois will have to decrease funding to other state programs in order to cover the pension gap. He also highlights how in 2016 we will see Illinois’ pension contributions will exceed Education funding.

Khan Academy on Illinois pensions

By Mike Riopell

The free online school of everything has taken on the Illinois pension crisis. This video is from Khan Academy, the heralded online video series that can teach you about ...

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Teacher’s Pensions in Jeopardy

For a second consecutive year, Illinois’ pension payout will increase by $1 billion, straining the ability of the government to meet its pension commitments to retired and retiring teachers. Gov. Quinn has said that legislators must attempt to fix the problem, as opposed to simply waiting for help from the federal government.

Illinois’ pension payment set to increase by another $1 billion next year

by Jonathan Ingram

For the second year in a row, the state’s annual pension payment will increase by nearly ...

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