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      Midland ISD

      All students will graduate prepared and ready for college or career.

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      • Financial Planning 457/403(b)

      Benefits & Risk Management

      Page Navigation

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      • 5 Financial Planning Tips for a Happy and Prosperous Future | WiserAdvisor  - Blog

        Financial Planning/Retirement Plan Options

        Research shows that Americans are living longer and their number of years in retirement is increasing. While your Teacher Retirement System (TRS) pension may be enough to cover expenses during your initial retirement years, the reduced monthly income may not be sufficient for costly factors such as medical bills, taxes, and your desired standard of living. Contributing to a retirement savings plan can help supplement your pension during retirement.

        Choosing to save with a 457(b) and/or a 403(b) allows you to save money in a pre-tax (Traditional) or after-tax (Roth) account. Contributions to the plan are salary-deducted from your paycheck and automatically deposited into your account. You may start and stop contributing at any time.

        457(b) Savings Plan

        • Employer-sponsored plan with fiduciary oversight by TCG Advisors and a committee of Superintendents/CFO’s.
        • High-quality, low-fee investment options
        • No commissions.
        • No federal penalties for withdrawing funds from the account. Income tax still applies.
        • Choose between target date funds, risk-based portfolios, or self-directed mutual funds.

        403(b) Savings Plan

        • Multi-vendor plan. You must research from a list of 50+ vendors and decide the best fit for you.
        • Fees and investments vary per vendor.
        • Commissions vary per vendor.
        • 10% early withdrawal penalty (goes away at age 59 1/2 or age 55 if retired).
        • Investment options vary by vendor, including fixed/variable annuities and mutual funds.

        Trusted Capital Group (TCG) currently manages our investment plans. Please click here for registration instructions. For live assistance you can call TCG at 800-943-9179

        Registration & Plan Notices

        403(b) Plan Notice

        403(b) Plan Enrollment Instructions 

        403(b) Savings Plan Information 

        403(b) vs 457(b) Plan Comparison

        457(b) Plan Notice

        457(b) Plan Enrollment Instructions

        457(b) Savings Plan Information

        FORMS

        403(b) Distribution Form (Rollovers, Withdrawals, Loans, etc.)

        403(b) Account Authorization Form 

        457(b) Loan Request Form 

        457(b) Distribution Form 

        457(b) Account Authorization Form 

        Rollover Contribution Form 

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