About Your 403(b) Program
Your employer's 403(b) retirement savings program is a voluntary participation benefit currently enjoyed by many employees. In making available this benefit, your employer must adhere to Federal law governing the program.
One of these rules requires that all eligible employees must be provided an opportunity to learn about and participate in your employer's 403(b) retirement savings program. This is commonly referred to as the "universal availability" requirement.
There are a number of benefits to participating in a 403(b) retirement savings program.
- Immediate tax break - Before-tax savings reduces current taxable income*
- Tax-deferred growth* - Defer taxes on potential investment growth
- Payroll reduction - Your contributions are deducted automatically from your paycheck
- Investment choice - A broad range of investment choices through a variable annuity or a custodial account
- Portability - You can take it with you if you change employers
MetLife's on-site representatives are available to help you with your retirement planning needs. We specialize in the defined contribution and retirement planning marketplace by providing a full service approach that goes beyond traditional administrative, recordkeeping, and service platforms. Using our software, our representatives can provide the following:
- Retirement Needs Analysis - estimates the amount you'll need to save based on estimated pension and Social Security benefits
- Paycheck Analysis - shows you how contributing to your 403(b) program will affect your take-home pay
- Accumulation Illustrations - shows how your retirement savings might grow over time based on the amount you've decided to contribute and a hypothetical investment return assumption
Additionally, we offer a fast, easy way to help you develop a strategy that addresses your specific financial needs and goals. A Financial Needs Analysis, provided at no cost or obligation to you, can help you get started, or continue, on the road to financial security. Our representatives can:
- Meet with you to help you review your financial goals
- Gather information to help you build your program
If you have questions about your employer's 403(b) program and need to contact a MetLife representative, click on the link in the Find A MetLife Office box on the right of this page to locate a MetLife Office near you.
* Taxable distributions are taxed as ordinary income when received. A distribution before age 59½ may result in an additional 10 percent federal penalty tax. A Roth account option may also be available under your Employer's plans. Roth contributions are made with after-tax amounts, but, subject to certain requirements, distributions are not subject to tax when distributed.
Circular 230 Disclaimer - The information contained in this internet web page (including linked pages) concerning Federal tax issues is not intended to (and cannot) be used by anyone to avoid IRS penalties. This communication is intended to support the sale of insurance, annuity and other financial products and services. You should seek advice based on your particular circumstances from an independent tax advisor.