Deferred Retirement

Deferred Retirement Options

More choices, more ways to save for the future.

IRC 457(b) Deferred Compensation Plans

Plans eligible under 457(b) allow employees of sponsoring organizations to defer income taxation on retirement savings into future years.  If you work for a state or local government or a tax-exempt organization under IRC 501(c) like a public school, community college or a nonprofit organization, you owe it to yourself to learn more about Achieva’s 457(b) Plan.

What you should know:

  • Contributions to a 457(b) plan are tax-deferred
  • Earnings on the retirement money are tax-deferred
  • Your employer can automatically deduct the amount you specify from your salary
  • Permits high level of salary deferrals by employees and special catch-up contributions
  • May be rolled-over into another eligible retirement account
  • Money is invested in Achieva Credit Union savings and or CD accounts of your choice
  • Funds are insured by NCUA
  • Loans against your plan are not allowed

To learn more, click here.

403(b) Tax-Sheltered Annuity Plans

For Employees of Public Schools and Certain Tax-Exempt Organizations.

What you should know:

  • Money is invested in various mutual funds
  • You select the mutual funds that will meet your goals with guidance from an Achieva Certified Financial Planner (CFP)
  • Permits high level of salary deferrals by employees and special catch-up contributions
  • Allowable contributions to the plan are either excluded or deducted from your income
  • Earnings in your 403(b) account are not taxed until you withdraw them
  • Contributions made under a salary reduction agreement with your employer
  • Rollovers permitted to eligible retirement plan

Funds invested in 403(b) accounts are not insured by NCUA, involve risk, may lose value and loss of principal, and are not obligations of, or guaranteed by, Achieva Credit Union

To learn more, click here.

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