Retirement

Principia’s 403(b) retirement plan with Transamerica is an excellent way to save money for your retirement, reduce your taxes (under the Traditional plan), and enjoy tax-free withdrawals when you take a qualified distribution (under the Roth plan). Let ALEX help you plan for retirement and explore additional resources, including a plan highlights video, educational seminars, and more here.

403(b)

A 403(b) plan is a tax-advantaged retirement savings plan for employees of public schools, and certain tax-exempt organizations. It’s similar to a 401(k) plan, but it’s offered by different employers. Employees can contribute money from their paychecks, and employers may also contribute, including matching contributions. The money grows tax-deferred, meaning taxes are not paid on the contributions or investment earnings until retirement. Enroll in Principia’s 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.

2025 IRS limits

► $23,500 contribution limit

► $7,500 catch-up for those 50 and older

► $11,250 catch-up for those 60-63

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.

Investment Styles

Your retirement plan is one of the most effective ways to prepare for the future you deserve. The way contributions are invested in your account is referred to as your “investment allocation.” You may change your allocation at any time.

Principia offers four distinct investment pathways for you to choose between, including Target Date Funds, Build Your Own Investment Mix, Schwab Personal Choice Retirement Account (PCRA), or the StraightLine Custom Model Portfolio. The default investment pathway, should you not make an active election, is the Target Date Fund.

Read below to learn more about each pathway.

Target Date Funds

If you don’t actively choose your own investments, your contributions will automatically be directed into the Principia plan’s default investment option: a target date fund (TDF). You will be invested in the fund with a target date that is closest to the year in which you will turn 65. Investing in a TDF can be a good option if you’re seeking an easy way to diversify your retirement account. By making a single decision, a TDF allows you to enjoy asset diversification and allocation based on a target retirement year. The underlying investments in your chosen TDF become more conservative as you get closer to retirement.

Build Your Own Investment Mix

The build your own investment mix allows you to choose from the “core” funds in your plan. Your plan offers a range of choices that enables you to diversify among various asset classes and investment styles.

If you prefer to build your own investment mix using the funds selected by the Principia plan, you can get personalized guidance at no cost through StraightLine, our independent advisor, who is available to help you make informed decisions aligned with your goals, using their ProAdvice solution.

To learn about specific funds, follow the instructions below:

Log in to your Transamerica account here. At the top of the page, click on “Investments,” then select “Fund and fee information” from the dropdown menu.
Click on a specific fund for more information.

Schwab Personal Choice Retirement Account (PCRA)

A Personal Choice Retirement Account (PCRA) is a self-directed brokerage account that lets you invest a portion of your plan account balance in stocks, bonds, and mutual funds that are not included in the Principia funds available in the “Build Your Own Investment Mix” pathway. A self-directed brokerage account can be a valuable option for experienced investors who want greater control and flexibility, but it’s best suited for those who are highly engaged and comfortable managing their own investments—most employees may prefer the simplicity and support of the other investment pathways.

Visit transamerica.com/portal for a PCRA brochure providing applicable minimum plan account balance amounts, fees, and additional details.

StraightLine Custom Model Portfolio

If you prefer a more hands-off approach to investing, StraightLine—an independent financial advisor paid for by Principia—offers Pro(B), a “do it for you” service that manages your retirement account for you. Their advisors select and adjust your investments over time to help you stay aligned with your retirement goals.

If you’re considering a custom model portfolio through Pro(B), it’s important to think about your personal circumstances, market outlook, and risk tolerance. When you enroll, your account will be rebalanced to match the portfolio option you choose, and StraightLine will continue to manage it on an ongoing basis.

Model portfolios that StraightLine uses may change over time—funds may be added or removed, and allocations may shift. These portfolios carry the same risks as the underlying investments, and generally, the higher the stock allocation, the greater the risk. As with any investment pathway, portfolio values are not guaranteed.

For more details and a full list of risks, visit www.straightline.com. Portfolio management under this model is provided solely by StraightLine.

We recommend meeting with a StraightLine advisor to set up Pro(B) account management through the Custom Portfolio service, but if you are eager to get things going with Transamerica, here are the steps to follow.

Log in to your Transamerica account here. At the top of the page, click on “Investments,” then choose “Custom Portfolios” from the dropdown menu.
On the Custom Portfolio page:
- Turn the status to “On”
- Choose the portfolio that best fits your financial needs
- Confirm your selection at the bottom and review all disclosures before submitting

If you’re unsure which portfolio is right for you, a StraightLine advisor can help. Call 877-EDU-403B or visit www.straightline.com/principia to schedule a consultation.

Retirement Adviser

StraightLine is an independent financial advisory firm that has been retained by Principia to assist employees with the management of their accounts within Principia’s 403(b) plan and with general financial planning. They can provide a “do it for you” solution (Pro(B)) within the retirement plan or an advice-based management option (ProAdvice). More information on StraightLine and its services can be found at https://www.transamerica.com/portal/.

Retirement 403(b)