403(b) RETIREMENT PLAN
Click here to access the video of the 11/17/23 403b Information Session with Jerry Miletics of the Rockland Group
Retirement plan offered
to all employees
to all employees
Insight's 403(b) plan puts the power in the employee's hands - employees enjoy full control over where to invest their funds and employees can elect to contribute extra voluntary funds if desired.
403(b) Plan Administered by PenServ
The basics:
Employees hired in the 18-19 SY or later are required to contribute 5% of their pay to their 403(b) account. Insight PA matches this 5%. Employees may elect to contribute more than 5% if desired, but only the first 5% will be matched.
Employees are fully vested in employer match contributions after 1 year of service. Important Note: PenServ's website doesn't get live updates about vesting status so your vesting status may not show accurately, but you are vested after 1 year!
Employees can make voluntary contributions either pre-tax or roth.
Employees hired during the 17-18 SY that already participate in PSERS through Insight PA - you have the option to participate in the 403(b) plan in addition to PSERS. Since you already receive an employer match for PSERS, you will not receive a match for 403(b) as well, just your own contributions.
Click here to see a chart highlighting the diffferences between PSERS and our 403(b) plan.
Not a retirement expert?
If you're feeling overwhelmed or unsure about what the best decisions are for your retirement planning, we have a few resources available:
Risk Tolerance Questionnaire - use to help you decide where to allocate 403(b) funds
Financial Planning through Rockland Financial Group - contact Jerry Miletics and mention that you're an Insight PA employee; Jerry can provide resources and support at no cost to you.
Already have a 403(b) plan with Insight PA and want to update your contribution rate?
If you'd like to update your contribution rate/amount, you must login to PenServ to make these updates. If you have trouble logging in, call the customer service number on the front page of the site. To make an update:
Login to PenServ.
On the first page, select "Change Contribution Rate".
Click "Edit" under the appropriate type to update your election. Keep in mind - PenServ's website only shows voluntary contributions. It does not display the mandatory 5% contribution. The contribution rate/amount you elect on PenServ will be withheld in addition to the mandatory 5%.
Click through the options, make your selections, and be sure to press "Submit" when you're done.
Enrollment Information: