The 403(b) provides two savings options so you can choose the best tax deferral option for you. The pre-tax savings option offers lower taxable income today, while the after-tax Roth option allows you to have tax-free income in retirement. There are also additional tax advantages for rostered workers.
Savings in the CRSP makes up just part of your retirement paycheck. Learn about all of your current benefits, projected retirement pension income and how the CRSP savings fits into your overall retirement paycheck by visiting your Benefits Portal.
When the time comes, you will have several ways to get your retirement income: in a lump sum or through regular monthly payments. You can also roll your CRSP account balance into the Concordia Retirement Plan. Visit Retirement Connection for more information.
The CRSP 403(b) is administered by Fidelity, who provides robust financial planning tools. Through their site, NetBenefits, you can see how your account is growing and invested. The site also has valuable financial planning tools and calculators. Log in to the Benefits Portal to see your CRSP 403(b) account balance.
Questions about the 403(b)? The CRSP Enrollment Guide has the answers, providing you with plan details and information on the investment funds. Be sure to take the time to check it out.