In this episode of the Washington Retirement Planning Podcast, I break down the essential steps for enrolling in a 403(b) plan, tailored specifically for school district employees in Washington State. Learn the differences between mutual fund and annuity-based 403(b) options, how to select the best vendor, and how to avoid common mistakes that can cost time and money.

I also address a listener's question about managing small 403(b) accounts in retirement, including strategies like rolling over into an IRA or leveraging an income annuity. Whether you're setting up your first plan or figuring out how to maximize an existing one, this episode has actionable tips to help you retire sooner and pay less in taxes.

Be sure to join my free community on School for exclusive courses and resources designed to simplify your financial planning journey. Links and resources mentioned are in the description below!

00:00 – Intro

01:18 – How do we enroll in a 403(b) Plan?

02:14 – Step 1: Understand what your options are

03:37 – Step 2: Choosing Between Annuity-Based and Mutual Fund-Based Plans

08:18 – Step 3: Completing Your Application

10:12 – Step 4: Submitting Your Salary Reduction Agreement (SRA)

11:26 – Step 5: Tracking Contributions and Avoiding Payroll Errors

14:16 – Listener Question: Options for Small 403(b) Accounts

19:42 – Washington Wealth Breakthrough - Free Course

Links:

1. ⁠⁠Free Washington Retirement Planning Community⁠⁠

2. ⁠Plan 3 Investment Advice⁠

3. ⁠Schedule Meeting⁠

4. More free resources at ⁠WATRSPERS.com⁠