Collin Invests Enhanced Retirement Plan
Collin College is pleased to announce changes to the 403(b) plan effective September 1, 2019 - "Collin Invests" Enhanced Retirement Savings Plan
- Sole Provider
- Employer match (up to 3% of base salary)
- Mutual Fund Platform
- Reduced Fees
Collin College has partnered with AIG Retirement Services to be the sole provider for the "Collin Invests" 403(b) plan.
Retirement Week 2019
Saving for retirement is important, for all of us. AIG will be holding seminars at all three campus on Wednesday, October 21st, in honor of National Retirement Security Week. This week is dedicated to increasing public knowledge about retirement savings and to encourage employees to save and participate in their employer-sponsored retirement plans.
Info sessions are scheduled as follows:
Want to set an enrollment meeting with an AIG Advisor?
Click on the locations below to set a 30-minute appointment time with Advisors Bentley Craft and Kevin Konkal.
Want to set a follow up Financial/Retirement Planning Meeting with an AIG Advisor?
Click on the locations below to set a one-hour appointment time with Advisors Bentley Craft and Kevin Konkal.
How to Enroll
Enrolling after September 26th will start your contribution with your October pay.
AIG offers easy enrollment for employees that feel confident in managing their own invests. You can also arrange for a visit with one of AIG's Financial Advisors (Bentley Craft and Kevin Konkal) if you want guidance.
The Plan Codes for the Collin Invests Enhanced Retirement Savings Plan are as follows:
- If your base salary is paid to you over 12 months in the fiscal year (12-month pay), please use: 40521003.
- If your base salary is paid to you over 9 months in the fiscal year (9-month pay), please use: 40521004.
If you were previously contributing to a 403(b), you were automatically enrolled in the new 403(b) plan. Your previous contribution was converted to an approximate percentage of your 2018-2019 base pay. This will be your contribution rate effective September. Should you want to change this percentage, you can contact Bentley Craft or Kevin Konkal to arrange an appointment.
Collin Invests Announcement (Current Non-AIG 403(b) Participants)
Currently participating in the TexaSaver 457 plan?
The new option will not reduce your contributions into the TexaSaver account. You will not be able to roll your funds into the new AIG account unless you meet the following criteria:
- You are at least 70 1/2 years of age
- You are taking a required minimum distribution (per the IRS; must also be at least 70 1/2 years of age)
- You have not been contributing for a period of at least two years and have a balance of less than $5,000 (de minimus)
For more information, please reach out to TexaSaver by calling them at (800) 634-5091 or visiting www.texasaver.com.
Currently an AIG Participant?
Collin Invests Announcement (Current AIG Participants)
Not Currently Participating?
You will need to contribute in order to receive the employer match of up to 3% of your base salary.
Beginning September 26th, part-time employees are able to enroll in the Collin Invests Enhanced Retirement Savings Program. Part-time employees are not eligible for the employer match.
If you were previously participating, your current contribution was converted to an approximate percentage of your 2018-2019 base pay. This will be your contribution rate effective September. Should you want to change this percentage, you can contact Bentley Craft or Kevin Konkal to arrange an appointment.
Automated Enrollment Worksheet (You can use this worksheet to prepare three pieces of information necessary to complete your enrollment.)