Bear in mind that income taxes are payable upon withdrawal. Generally, an IRS 10% tax penalty will apply to withdrawals made before age 59½, unless an exception applies (such as you become disabled, die or retire after attaining age 55.)
403(b) plan
Welcome to your 403(b) retirement plan. Click below to view the features and highlights of your employer’s retirement plan.
The plan highlights are only a brief overview of the plan's features and are not a legally binding document. The information in this section does not modify the terms of the plan and in the event of a conflict, the terms of the plan control.
Take advantage today
You are immediately eligible to participate in the 403(b) retirement plan.
Starting early has its advantages
Employee contributions
You may contribute as much as 100% of your annual includible compensation up to the maximum IRS contribution limit.
Catch-up contributions
You might be eligible to contribute additional catch-up amounts if you meet the following conditions.
Vesting
You are always 100% vested in your own contributions.
Accessing your money
Withdrawals
Money can be withdrawn from your 403(b) plan in these events:
- Attaining age 59½ (employee contributions only)
- Retirement or separation from service (distributions where the employee retires or separates from service on or after age 55 are not subject to the 10% early withdrawal federal tax penalty)
- Your death or total disability
- Hardship withdrawals (employee contributions only)
In addition, the Internal Revenue Service (IRS) requires you to take Required Minimum Distribution (RMD) withdrawals from your retirement account(s) annually beginning the year you reach the RMD eligible age. RMD eligible age is:
- Age 73 if you were born January 1, 1951, or later (The RMD eligible age will increase to age 75 after December 31, 2032)
- Age 72 if you were born after June 30, 1949, and before January 1, 1951 (For individuals turning age 72 in 2023, no RMD payment is required in 2023)
- Age 70 ½ if you were born before July 1, 1949.
Important considerations before deciding to move funds either into or out of a Corebridge Retirement Services account
There are many things to consider. For starters, you will want to carefully review and compare your existing account and the new account, including: fees and charges; guarantees and benefits; and, any limitations under either of the accounts. Also, you will want to know whether a surrender of your current account could result in charges. Your financial professional can help you review these and other important considerations. Consult a tax professional before making a decision to move funds either into or out of a Corebridge account.
Loans
Loans are not allowed from this plan.
An array of investment choices
You decide how to invest your plan account. The following funds are available in your retirement plan. They provide you with the flexibility you need to create a suitably diversified portfolio that matches your personal retirement time horizon, investment risk tolerance and investment preferences.
- Mutual fund: View the entire list of funds and performance available in your 403(b) plan.
- Annuity: View the entire list of funds and performance available in your 403(b) plan. (Please note, it may take a few minutes to load the performance.)
To obtain a Portfolio Director prospectus and underlying fund prospectuses, visit www.corebridgefinancial.com/retirementservices or call 1.800.428.2542 and follow the prompts. The prospectuses contain the investment objectives, risks, charges, expenses and other information about the respective investment company that you should consider carefully before investing. Please read the prospectuses carefully before investing or sending money. Policy Form Series UIT-194, UITG-194 and UITG-194P.
RO 2767020 (3/2023)