Ivan Orozco · Teachers Retirement Solutions
Contact Ivan today and let’s start protecting what matters most together!
Why Ivan
Ivan helps California educators with the plans below. The quotes are from Google reviews of the Teachers Retirement Solutions team.
A deferred-compensation plan for state and local government (and some nonprofits), offering pre-tax savings and flexible withdrawals.
“Great conversation about the different retirement accounts available!” — Hitesh Kumar, Google review
A tax-advantaged plan for employees of schools and nonprofits, letting you save pre-tax income for retirement.
“Was really helpful and made things really clear for me” — Edgar Munoz, Google review
A contract that pays a tax-free death benefit to beneficiaries, providing financial protection and peace of mind.
“Very helpful and happily answered all the questions i had” — Lilia C, Google review
We’ve helped more than 2,000 California educators take control of their retirement plans, avoid costly mistakes, and close the income gaps their pensions couldn’t cover.
“My experience was excellent they answer your question's.” — Norma Fuerte, Google review
Client wins
Comparing accounts
Hitesh talked with our team about the different retirement accounts available to him, and calls it a great conversation.
Great conversation about the different retirement accounts available!
Clarity
Edgar says our team was really helpful and made things really clear for him.
Was really helpful and made things really clear for me
Short and to the point
Sue’s meeting was short and to the point, and every one of her questions was answered.
I enjoyed the meeting. It was short and to the point.she answered all my questions.
“I enjoyed the meeting. It was short and to the point.she answered all my questions.”
Results
Teachers Retirement Solutions has a 5-star Google rating from California educators.
The questions California educators ask most about 403(b) and 457(b) plans.
Both let you save for retirement through payroll deductions with tax advantages. A 403(b) is offered by public schools and certain nonprofits; a 457(b) is a deferred-compensation plan offered by state and local government employers, including many school districts. The biggest practical difference: money in a governmental 457(b) can be withdrawn after you leave that job without the 10% early-withdrawal penalty, at any age. Most 403(b) withdrawals before age 59½ carry that penalty.
You choose an amount to set aside from each paycheck, and it goes into investments you pick from the plan’s options. With traditional (pre-tax) contributions you lower your taxable income now and pay tax when you withdraw in retirement. If your plan offers a Roth option, you pay tax now and qualified withdrawals in retirement are tax-free.
No. A 403(b) is an employer plan funded through payroll; an IRA is an account you open on your own. They have separate contribution limits, so you can contribute to both. Some 403(b) plans also offer a Roth 403(b) option, which works like a Roth IRA for taxes but follows the 403(b) plan’s rules.
Usually only in limited cases, and it depends on your plan. Common options are loans, hardship withdrawals for a 403(b), unforeseeable-emergency withdrawals for a 457(b), or in-service withdrawals once you reach age 59½. Early 403(b) withdrawals can also mean income tax plus a 10% penalty, so it’s worth checking your options with Ivan first.
No. Your pension pays a defined monthly benefit based on your salary and years of service. A 403(b) or 457(b) is a separate savings account you fund yourself; what you have at retirement depends on how much you contribute and how the investments perform. Many educators use one to help close the gap between their pension and the income they want in retirement.
Yes, if your employer offers both. The 403(b) and 457(b) have separate annual contribution limits, so educators with access to both can save up to twice as much as with one plan alone. Ivan can help you decide how to split contributions between them.
General information, not tax or legal advice. Rules vary by plan; Ivan can review yours.
Have questions?
Fill out the form, and Ivan will get back to you shortly. Or book a time that works for you.