Start Saving Today! Your Future Self Will Thank You.
Don’t delay in planning for a financially secure retirement. 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.
For 2023, individuals under age 50 can contribute $22,500 to a 403(b) plan or 457(b) governmental plan (available through Ohio Deferred Compensation). For those age 50 or older, these plans offer “catch up” provisions with additional contributions permitted above that amount. Are you limited in how much you can save at this time? Consider starting with a small amount per pay and increase that amount as future income allows.
Click here for further details on plan features, contribution limits and available resources for establishing a supplemental retirement plan.