403(b)(7) Plans
A tax-sheltered plan for not-for-profit organizations

Many not-for-profit organizations choose to offer 403(b)(7) retirement plans to employees. These plans give hospitals, schools and other not-for-profit organizations the ability to offer employees a pre-tax salary reduction contribution to a custodial account of mutual funds.

Eligible employees set aside money on a pre-tax basis. That money is distributed to employer-approved mutual funds, where the money grows tax-deferred until retirement.

Employees are free to choose their mutual fund mix and contribution amount using a formula based on salary, years of service, prior service and current age.

For more information, contact an Extraco Relationship Manager by e-mail, or call 866-EXTRACO toll-free.

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