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403(b)/457(b) Why Should I Participate?

The Three-Legged Stool

Generally speaking, retirement income is generated from three sources: 1) Employer Pension Plans [like PERS]; 2) Social Security; and 3) Supplemental Retirement Savings. Ordinarily, the first two legs of this stool are insufficient for continuation of pre-retirement standard of living through the retirement years. Your employer offers excellent tax deferred supplemental retirement savings plans as one option for you to add this third leg to your "retirement income stool."

Shaky First Two Legs

For various reasons (e.g., generous guaranteed benefits and substantial investment losses), State Pension Plans like Oregon PERS are under pressure to reduce unfunded liabilities by reducing pension benefits to participants. The Social Security Trust Fund is constantly under review and many fear that benefits will be less than anticipated. Hence, it is prudent to anticipate the need for additional retirement income and take action now to meet that need. Tax deferred savings through your employer's 403(b) and/or 457(b) plans is an excellent way to take such action.

Education & Retirement Savings

This article provides results of research supported by the TIAA-CREF Institute. Among many other things, the article emphasizes the need for supplemental retirement savings.

Frequently Asked Questions by Employees

Chances are, it's been asked before. If after reviewing subject-specific pages on this site you still have questions about your employer's CCC-administered 403(b) Plan, review these answers to Frequently Asked Questions (FAQ) by Employees. Learn More 403(b) Learn More 457(b)

Ask Your Own Questions

Click on this link to pose your own questions to Carruth Compliance Consulting, by electronic mail (email), telephone, fax, or any standard mail carrier. Learn More