Retirement 403(b)

Enroll in the Principia 403(b) anytime after your first paycheck at www.transamerica.com/portal.

Your contributions
Contribute from 1% to 75% of your compensation on a Traditional or Roth basis up to the IRS limits listed below. The primary difference between a traditional 403(b) and a Roth 403(b) is when you pay taxes on these contributions.

► Traditional: Contributions are made on a pretax basis. Pay taxes on any earnings and the balance when you take it out.
► Roth: Contributions are made on an after-tax basis. When you withdraw your money (including any earnings), you pay no taxes.

2024 IRS limits
► $23,000 contribution limit
► $7,500 catch-up for those 50 and older

Principia match
The 403(b) contributions you defer are eligible for Principia-matching contributions of 100% of the first 6% of eligible compensation that you defer, up to an annual maximum match of $4,500. Contribute at least 6% to receive the maximum Principia match of 6%. A payroll deduction must be made to receive a match; therefore, spread your contributions evenly over all paychecks in the year to ensure you don’t miss out on the Principia match. You can modify your contribution level anytime. All Principia contributions are 100% vested immediately.

Automatic Enrollment
You will be automatically enrolled at a 2% contribution into the Principia 403(b) plan on a pre-tax basis unless you contact Transamerica online or by phone and
► Enroll at the contribution rate of your choosing after your first paycheck and within 30 days of your hire or
► Opt out after your first paycheck and within 30 days of your hire

To opt out of automatic enrollment or change your election, log into Transamerica or call them at (800) 755-5801 at any time prior to the first contribution to stop your deferral into the plan.

Retirement Adviser
Principia provides you free access to StraightLine, a Financial Adviser who can help you plan for retirement. Learn more here.