Answers to Frequent Questions

 

Home Loan Program?
Many 403b plans offer loan features that can be used for the purchase of a primary residence. Contact a service representative to find out more information.

Is Purchasing service credits the best option for me?
Purchasing service credits can be costly and is not always the best way to go. Depending on your specific situation there may be better alternatives. Contact a service representative to find out more information.

Why is getting a tax refund a bad thing?
Getting a tax refund is like giving the IRS a 16 month loan without charging them any interest. Contact a service representative to find out how to increase your monthly take home using your tax refund.

What is a 403b and do I need one?
A 403b is a tax sheltered retirement plan. Everyone's retirement benefits are base on several factors, no one account will suit everyone's retirement needs. Contact a service representative for a personalized projection to determine your needs.

What type of investments make up my 403b?
There are three basic types of 403bs accounts Fixed, Variable, and Indexed. Fixed accounts are a set interest rate which usually do not offer high rates of return. Variable accounts fluctuate with with the markets ups and downs. Indexed accounts do participate in the market however do not experience the downs, they only increase with the market. Contact a service representative for a review of your current accounts.

Is my 403b protected?
For certain account types the California Life & Health Insurance Guarantee Association provides limited protection to policyholders when an insurance company becomes insolvent. However not all 403b accounts fall under this protection. Contact a service representative for a review of your existing accounts to confirm the security of your account.

I've been told about life insurance that will act as a retirement plan as well, is this a better option for me?
There are several different life insurance policies available. Some also offer a tax free income at retirement, however this product is not suitable for most situations. Contact a service representative for a review of your specific needs to determine if this plan suits you.

My account is losing money, what should I do?
Not all accounts are created equal. There have been many changes to retirement plans which means they need to be constantly reviewed and compared to determine if your account still suits your needs. Contact a service representative for a review of your accounts to determine the best options for your specific needs.

I'm planning on retiring in the next 5 year, what should I do?
Most people are unaware of what the best option is when in comes time to retire. The account you started out with may not be the one you should retire with. Make sure your account will sustain you the rest of your life with optional riders and bonuses. Contact a service representative to determine if your retirement account is setup correctly.