Overview

The Nebraska Pediatric Practice, Inc. 403(b) Plan is one of your most important retirement benefits. The Plan is an effective way to complement your personal savings and other retirement accounts by investing during your working years to build additional retirement income. The Plan can help you save on taxes now, and in retirement, while providing you with a variety of low cost investment options to choose from.

Why should I join the Nebraska Pediatric Practice, Inc. 403(b) Plan?
Reaching your retirement goals can take a lot of preparation. Experts suggest you’ll need to replace at least 70% of your salary for each year in retirement. With the average life expectancy increasing and rising healthcare costs, you should plan to live longer and spend more in retirement than previous generations. The Nebraska Pediatric Practice, Inc. 403(b) Plan is one way to help turn your retirement dreams into a retirement reality. Plus, by participating in the Plan you’ll have access to tools, education and resources that can help you get and stay on track to retirement on your schedule.

Why should I start saving now to the Nebraska Pediatric Practice, Inc. 403(b) Plan?
You’re never too young to start planning for retirement. The sooner you start, the better. That’s because when you save for retirement now, you can help maximize the potential benefits of tax-deferred growth and compounding interest. Compound interest is how your account grows over time, because you earn interest on the interest you have already earned. Your money is your money-maker, so saving now gives it as much time to grow as possible.

What are the tax benefits of contributing to the Nebraska Pediatric Practice, Inc. 403(b) Plan?
The pre-tax money you contribute to your 403(b) Plan account is automatically deducted from your paycheck before taxes are taken out. This tax deferral strategy means that every dollar saved as a pre-tax contribution reduces your taxable income for the year by a dollar. Tax deferral simply means the contributions to your 403(b) Plan account are not currently taxed. You are putting off paying taxes on that money until you withdraw it from your retirement account. Since you may be in a lower tax bracket at retirement, that could mean paying less taxes in the future than you would today. Plus, any earnings on your contributions also grow tax-deferred until they’re withdrawn from your account.

Can I take withdrawals from my Nebraska Pediatric Practice, Inc. 403(b) Plan account?
When you’re still employed, you have the following options to access money from your account:

• Withdrawals from any allocated source after you attain age 59½.
• Hardship withdrawals from contributions you have made, subject to the IRS rules defining a hardship.
• Withdrawals of money you rolled into your Nebraska Pediatric Practice, Inc. 403(b) Plan account can be taken at any time.
• One loan is permitted at a time, and only one loan may be approved per calendar year. The loan term must be between one and five years, with a minimum loan amount of $1,000 and a maximum amount equal to the lesser of 50% of your vested balance or $50,000.

When you have left employment, vested balances less than $7,000 may be distributed to you automatically and without your approval. Please contact Voya at (800) 584-6001 to learn more about your withdrawal options while employed or when your employment ends.