Helping you on the Road to Financial Wellness
Pension Fund offers two employer-sponsored retirement savings products for TCU employees. After two years of employment, TCU will contribute 11.5% percent of salary into either of our products. You may also choose to enroll in both and contribute your own funds on a pre-tax basis. To learn more about each and which is the best fit for your retirement savings goals, read below.
An defined benefit plan, the Pension Plan guarantees a monthly retirement benefit for your lifetime (and your surviving spouse’s lifetime). This means you can never outlive your money. The Pension Plan requires 14% of salary to be contributed which would be an employer contribution of 11.5% and a employee contribution of 2.5% to make up the full 14% of salary.
Tax-Deferred Retirement Account
The Tax-Deferred Retirement Account (TDRA), also known as a 403(b)(9) plan, is a retirement savings plan that allows you to set aside a portion of your salary on a pre-tax basis to save for retirement. By contributing to a TDRA, you are able to lower taxable income and defer taxes until funds are withdrawn in retirement. The TDRA is a great option for rollovers.
Save Even More for Retirement
In addition to our employer-sponsored products, Pension Fund offers three additional savings products that will help you meet their retirement savings goals. Click the below links to learn more: