World-Class Future Prince William County Public Schools 457(b) Governmental Plan

Welcome new employees of Prince William County Schools!

To get started, check out this video  for an overview of your plan.

   

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Did you know that less than one-third of American workers feel very confident about their ability to afford a comfortable  retirement?1

The good news is: You have reason to be confident!

You have access to an employer-sponsored retirement plan. So give your retirement savings a jump-start by taking advantage of this opportunity.

Your Prince William County Schools 403(b) and 457(b) Retirement Plans are a part of your total compensation package. If put to good use, it could become one of your most important workplace benefits. You can choose to contribute in two different ways. The first is by contributing money before it’s taxed, which is called a pretax contribution. This reduces your current taxable income dollar for dollar, so fewer taxes are withheld each pay period. You’ll pay taxes on your contributions and on any earnings when you withdraw your money, typically at retirement. The second is by contributing money after it’s taxed, which is called a Roth contribution. By paying your taxes now, you secure a source of entirely tax-free money later on, if certain conditions are met. That’s right! Both your contributions and any earnings can be withdrawn tax-free as long they’re part of a qualified distribution. A distribution is considered “qualified” if your Roth account has been established for at least five years and you’re at least age 59½, or if the withdrawal is due to your death or total disability

Learn more about your workplace retirement plan.

1Employee Benefits Research Institute and Greenwald Research. "2021 Retirement Confidence Survey." April 22, 2021.

Helpful information for all PWCS employees not yet participating in the PWCS Supplement plan.