Read about the District's new Retirement Savings Plan with partner AIG, which is effective November 1, 2019.
Retirement Savings Accounts - 403(b) and 457(b) Plans
School District U-46 offers two retirement savings plans -
- 403(b) Plan is a type of retirement savings plan offered by public schools. It allows both pre-tax and post-tax (Roth) deferrals.
- 457(b) Plan is a type of retirement savings plan offered by state and local government bodies. It allows both pre-tax and post-tax (Roth) deferrals.
Effective November 1, 2019, the School District U-46 403(b) and 457(b) Retirement Plans (the “Plans”) will be administered by AIG Retirement Services.
Over the past 18 months, the District has been evaluating the Plans in an effort to provide retirement solutions that are easy-to-use, cost-efficient, and satisfying. As a part of this review, the District has established a Retirement Committee to oversee the Retirement Plans, engaged an independent investment consultant to provide expertise and guidance to the Committee, and conducted a review of the Retirement Plans’ service providers. The goal of the District was to identify a provider that has the ability to offer the best set of services to meet the needs of District employees at the most competitive price. Following the completion of an extensive completive evaluation process, AIG/VALIC Retirement Services was identified as the provider who will provide a comprehensive and cost efficient retirement offerings to the District.
CLICK LINK BELOW TO READ MORE ABOUT THE DISTRICT'S TRANSITION TO AIG RETIREMENT SERVICES: