403(b) Retirement Plan

Below are the important features about your plan. This website is intended to be a summary of the plan provisions.  In the event that a conflict exists between the information contained within this website and the plan document, the plan document provisions prevail. For more information, please contact your local representative.


The contributions are made on a pre-tax basis. Contributions made from your wages "reduce" your salary by the amount of your contribution, and you are not taxed on those contributions or the earnings until the money is distributed. Contributions are invested according to your investment selection. Please note that distributions will be taxed as ordinary income when distributed and are subject to any applicable tax penalties.  The plan also allows for Roth 403(b) contributions.

Under the Plan, the maximum annual contribution amount is set by IRS guidelines on a yearly basis. You may view the current limits here

Contract Exchanges

The Plan permits you to move existing Plan assets with prior investment providers to Voya®. Consider your personal financial situation; compare your options for differences in cost, benefits, charges and other important features, before you exchange assets. For assistance please contact the Voya Account Consolidation Team Member, Jordan St. Jean, at 612-217-9670 or via email at Jordan.St.Jean@Voya.com Retirement Consultants are registered representatives of and offer securities through Voya Financial Advisors, Inc. (member SIPC), 699 Walnut Street, Ste. 1000, Des Moines, IA 50309.


The Plan permits you to rollover amounts from a 401(a)/(k), 403(b) or governmental 457(b) plan or a traditional IRA.

Consider your personal financial situation; compare your options for differences in cost, benefits, charges and other important features, before you rollover assets.


Active participants are permitted to borrow from their deferred compensation plan account.

There are two types of loans available; general purpose and residential (used to acquire, construct, reconstruct or substantially rehabilitate the principal residence of the participant or family member)

Participants may only have two loans outstanding under the Plan at any time.

Minimum loan amount for general purpose loans is $1,000, and for residential loans is $1,000.

The maximum loan amount is the lesser of: 1) $50,000 minus the excess (if any) of the highest outstanding balance of loans during the one year period ending on the day before the loan is taken, over the outstanding balance of loans on the date the loan is taken; or 2) 50% of your vested account balance.

You are able to view availability and payment options in your online account. Log In  to your account from the Home page of this site. If you need help logging on to your account, you contact Customer Service or the local Voya® office.

Loan repayments (principal and interest) are made by payroll deduction on a biweekly basis. The maximum loan repayment period is five (5) years for general purpose loans and twenty (20) years for residential loans.

A one-time set up fee of $100.00 applies to each loan taken.

Loans may impact your withdrawal value and limit participation in future growth potential.

Upon separation from service you may continue to make loan payments directly to Voya® via ACH. If loan payments are not continued the loan will default and the loan balance will be reported as income on a 1099 in the year of the default.

To request a loan, please call the customer contact service center at (800) 584-6001 for a Loan Request package. Review, complete and sign the loan documents. The documents can be faxed or mailed back to Voya for processing. Please note: loans will reduce your account balance, may impact your withdrawal value and limit participation in future growth potential. Other restrictions may apply.

Permitted Distributions

403(b) plans are intended to be long-term investment vehicles. In general, contributions made to the Plan may only be withdrawn due to:

  • Attainment of age 59½ (withdrawals prior to age 59½ may be subject to an IRS 10% premature distribution penalty tax);
  • Severance from employment;
  • Your death or disability;
  • Financial hardship.

In addition, your Roth 403(b) Contributions may be distributed tax-free only if you have met a 5-year holding period requirements and the distribution is due to:

  • Attainment of age 59½
  • Disability
  • Death

It is important to note that the Roth 403(b) will have the same restrictions on pre-59½ withdrawals as does the traditional (pre-tax) 403(b.

A 403(b) plan may also include provisions allowing for additional access to funds in your account. Funds may be withdrawn by an alternate payee under a qualified domestic relations order once your account is divided in accordance with a court order.

For 403(b)(1) fixed or variable annuities, employee deferrals (including earnings) may generally be distributed only upon your: attainment of age 59½, severance from employment, death, disability, or hardship. Note: Hardship withdrawals are limited to employee deferrals made after 12/31/88. Exceptions to the distribution rules: No Internal Revenue Code withdrawal restrictions apply to '88 cash value (employee deferrals (including earnings) as of 12/31/88) and employer contributions (including earnings). However, employer contributions made to an annuity contract issued after December 31, 2008 may not be paid or made available before a distributable event occurs. Such amounts may be distributed to a participant or if applicable, the beneficiary: upon the participant's severance from employment or upon the occurrence of an event, such as after a fixed number of years, the attainment of a stated age, or disability. For 403(b)(7) custodial accounts, Employee deferrals and employer contributions (including earnings) may only be distributed upon your: attainment of age 59½, severance from employment, death, disability, or hardship. Note: hardship withdrawals are limited to: employee deferrals and '88 cash value (earnings on employee deferrals and employer contributions (including earnings) as of 12/31/88).

Payment Options at Separation from Service

  • Partial or Lump-sum Withdrawal
  • Systematic Withdrawal Option – Specified period or specified amount
  • Rollover to another eligible retirement plan
  • Combination of payout and annuity options
  • Annuity options

Not FDIC/NCUA/NCUSIF Insured I Not a Deposit of a Bank/Credit Union I May Lose Value I Not Bank/Credit Union Guaranteed I Not Insured by Any Federal Government Agency

Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. Securities are distributed by Voya Financial Partners LLC (member SIPC). Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. All companies are members of the Voya® family of companies. Securities may also be distributed through other broker-dealers with which Voya has selling agreements. Insurance obligations are the responsibility of each individual company. Product and services may not be available in all states. CN1739876_0823