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Financial Wellness / Optional Retirement Savings

Optional Retirement Savings 

Financial wellness is an important aspect of overall well-being, and an optional retirement plan can play a pivotal role in achieving it. Plans such as the 457(b) and 403(b) can provide individuals with an opportunity to safeguard their financial future. Financial planning can ensure a comfortable retirement and provide individuals with peace of mind for their retirement. 

  • A Section 457(b) plan is a special type of employer-sponsored retirement plan that certain governmental employers and other tax-exempt organizations can establish for their employees.
  • A 403(b) plan is a special type of employer-sponsored retirement plan designed for eligible public education, religious, and other tax-exempt organizations.

All employees may participate in one or both voluntary payroll-deducted retirement savings plans.   

For more information, visit the TCG site.   

FICA Alternative Plan - Not Optional

An employee is required to participate in the FICA Alternative Plan if they meet one of the eligibility requirements listed below.

  • Part-time (20 hours or less per week)
  • Seasonal (five months or less per year)
  • Temporary (contract of two years or less in duration)
  • Not covered by TRS in a position otherwise covered by TRS

FWISD has adopted a FICA alternative program. You are automatically making contributions each paycheck towards a savings account.