Financial Services   >   Retirement Savings Plans

Please see below for information on the Retirement Savings Plans offered by ISTA FSP.

401(a)

401(a) profit sharing plans are contributory plans under which the amount contributed to the employee's account is based on a percentage of the employer's profits.

403(b)

A 403(b) plan is a retirement plan that allows employees to set aside a portion of their pay on a pre-tax basis. In addition, earnings in a 403(b) plan are free from taxation until a participant withdraws the money. There are restrictions on your ability to access the funds and any earnings invested in the plan before you turn 59½. Where withdrawals prior to age 59½ are allowed they will be subject to tax penalties, except for special circumstances. Many plans do, however, include provisions where you can borrow against your monies.

457(b)

A 457(b) plan is a tax-exempt deferred compensation program made available to employees of state and federal governments and agencies. A 457 plan is similar to a 401(k), except there are never employer matching contributions and the IRS does not consider it a qualified retirement plan. Participants can defer some of their annual income (up to an annual limit), and contributions and earnings are tax-deferred until withdrawal. Distributions start at retirement age but participants can also take distributions if they change jobs or in certain emergencies. Participants can choose to take distributions as a lump sum, annual installments or as an annuity. Distributions are subject to ordinary income taxes and the amounts cannot be transferred into an IRA.