Open Enrollment October 27 - November 14

403b

What is a 403(b) plan?

A 403(b) plan, is a retirement plan that allows you to contribute some of your salary (pre or post tax) to your retirement plan.

You can elect to contribute up to 85% of your salary to your retirement plan up to the IRS maximum each year.

If you are 50 or over, you can contribute an additional amount each year which is set by the IRS.

How to access my retirement account:

Biweekly employee Enrollment Guide

CHAPO employee Enrollment Guide and CHAPO plan overview

You can access your retirement account with TransAmerica online at (transamerica.com/portal) or by phone at 800-755-5801

New hires, please note, you will be able to set up your TransAmerica account after you receive your first pay.

Does CHA match my contribution?

You may also be eligible for CHA to add employer contributions to your retirement plan once you hit the requirements.

For CHAGS & CHAMS payroll & are benefit eligible, After 2 years of CHA service:

- Up to 2% match on your personal contributions and
- 2% employer core contribution whether you participate or not

Employee who work part-time (scheduled for less than 20 hours) & Temporary employees also need to have worked 1,000 hours in a year to be eligible.

For CHAPO payroll:

2% employer core contribution start date of hire
1/3% for each 1% you contribute, up to 6% of your contributions (maximum match = 2%)

Annual IRS Limits for 2025

Your contribution Limit: $23,500
If you are 50 or older you can contribute an additional $7,500 (total annual contribution of $31,000)
If you are age 60-63, you can contribute an additional $11,250 (total annual contribution of $34,750)

These are calendar year totals and can be any combination of pre-tax or roth (post-tax)

You can set your contributions to auto-increase? Easily add a boost to your retirement savings each year with the auto-increase feature. Even a 1% or 2% increase each year can make a huge difference down the road. You can set this up directly on your TransAmerica account

Don't forget: Designate a Beneficiary

This is done directly with Transamerica

Instructions on how to view/update your beneficiary.

Schedule a 1 on 1 with TransAmerica

You can meet 1 on 1 with a TransAmerica Retirement Planning Consultant by clicking here.

Managed Accounts through SageView Advice Services

This is an easy-to-use, professionally managed service that can save you time and energy in building a sound retirement strategy.

Benefits include a personalized investment portfolio, specific recommendations for how much to save and when to retire as well as future income projections and retirement readiness evaluation.

Easy to use. Easy to get help. Signing up for the service takes little time and offers access to financial professionals who can answer your questions and help create a retirement strategy just for you. The annual fee is 0.43%, which accrues daily and is deducted monthly from your account. That would be about $4.50 per year (0.36 cents per month) based on an account balance of $1,000. This fee is applied to your Advice Services balance only. You can try it for free for 90 days. We will be hosting an informational employee webinar to review the benefit and allow you the opportunity to ask questions from the experts.

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