Florida Retirement Plans

What’s Your Investment Plan Preference?

A 402(b) or a 457(b) Retirement Plan?

Gulf Coast Educators Insurance offers many financial products to help educators invest in their future retirement. We have experienced and knowledgeable insurance agents available to explain all of the ins and outs of each of the different types of financial services that we offer. A sample of the investment plans available for educators include the 403b investment plan and the 457(b) investment plan.

The 403b investment plan is a retirement plan for public school employees, tax-exempt organizations, and ministers. There are different types of 403b plans available. They include:

•An annuity contract provided by the insurance company
•A custodial account
•A retirement account income

An employee’s payment to the plan are made before income tax is paid. The money is taxed as income when it is withdrawn from the plan. Another benefit from this plan is tax deferred earnings on plan contributions and the ability to take loans from a 403b account. To see if a 403b investment plan might be right for you, please contact one of our three Southwest, FL locations: Naples, Port Charlotte, or Fort Myers. To reach the Naples office, please call 239-591-0963. To speak with an agent at the Port Charlotte office, please call 941-391-5423and for our Fort Myers office, call 239-997-0420.

With a 457(b) plan, you select a portion of your income to be put into a tax-deferred savings plan. This plan has a pre-set selection of investment choices but you decide where you want to invest your contribution based on the options provided. There are advantages to this investment plan such as:
•Your contributions and earnings are tax deferred
•Your money has the opportunity to grow because of time and compounding
•You can make an emergency withdrawal as long as you meet the criteria
•Your account is protected by law from anyone taking control of your assets including your employer provided you have certain exemptions
•You may be able to take a tax credit for elective deferrals

Gulf Coast Educators Insurance has retirement planning specialists available to answer any questions you may have about the array of financial products that we offer. Please call any of our three offices at the above numbers to schedule an appointment to discuss your investment plan options. We look forward to helping you get on the path to securing your financial future. Please call us today!