Don’t delay in planning for retirement financial security. Establishing retirement income sources in addition to your STRS Ohio pension — such as a supplemental retirement plan — can better position you to reach your financial goals.
Four important considerations:
- Supplemental retirement plans, such as the 457(b) plan offered through Ohio Deferred Compensation, allow you to save on a tax-deferred basis or with tax-free growth.
- Depending on your life expectancy, you could feasibly need to fund a 30+ year retirement.
- Consistent savings during your career can result in a significant retirement income source.
- The sooner you start saving, the more time you give your money to compound and grow!
Click here for further details on plan features, contribution limits and available resources for establishing a supplemental retirement plan.