Benefits - AACPS Supplemental Retirement Program

In addition to your health and wellness benefits, AACPS offers eligible employees the ability to participate in a Supplemental Retirement Program (SRP).  The AACPS SRP is an important component of your overall benefits and compensation as an AACPS employee.  This program provides you the opportunity to save for retirement on a tax-favored basis. 

AACPS offers you access to two types of plans:  a 403(b) and 457(b) tax-deferred compensation plan. You may contribute to both plans up to IRS limits.   Below are some key factors to consider when deciding which plan is best for you:

• Tax-deferred savings: Both of these plans permit you to save for retirement on
  a tax-deferred basis up to IRS limits through convenient payroll deductions.
   
•  Key plan differences: Review the comparison chart (located under Step 2 EVALUATE –see below) to view key plan differences such as plan loan availability and other major plan features.

•  How to decide: Deciding which plan to choose depends on several factors. Comparing each of the plans against your personal retirement goals will help you decide which plan to choose, and how much to contribute.  An investment provider representative can assist you with this. Because each individual’s circumstance is unique, we urge you to consult with an investment provider representative to evaluate your investment contributions and choices to ensure they are in line with your personal retirement goals.

;
Step 1 EDUCATE yourself on the importance of saving for your retirement, the 3 sources of retirement income, basic investment principals and the resources available to help you.	Step 2 EVALUATE each investment provider to determine how the options they offer fit into your overall investment strategy.	Step 3 ELECT one or more investment provider(s) and choose your investment elections.	Step 4 ENGAGE in an ongoing review and management of your investments,  access your account online using  Retirement Manager and, when necessary, request a loan or hardship distribution. Employee Guide. FAQ’s. Age Based Distributions.