A 403(b) plan is a retirement savings option available to employees of public schools and certain tax-exempt organizations. It allows you to set aside money from your paycheck, before income taxes are applied, into a retirement account for your future. You will generally pay taxes only when you withdraw the funds.
Why Participate?
- Supplement your NYS Retirement System with additional savings.
- Flexible contributions: as little as $25 per paycheck.
- The earlier you start, the more you can grow your retirement savings.
- Voluntary: participation is completely optional.
How It Works
- Contributions are made through a Salary Reduction Agreement (SRA) with your employer.
- Funds are automatically deducted from your paycheck and deposited into your 403(b) account.
Plan Administrator: The OMNI Group
Chenango Valley partners with The OMNI Group, our third-party administrator, to manage the 403(b) program. OMNI handles:
- New applications and account changes
- Payroll deductions
- Loans and hardship withdrawals
- Learn more about 403(b) plans
- Enroll or update payroll deductions
- Access forms and resources