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403(b) plan

An excellent way to save for retirement

Welcome to the website AIG Retirement Services has created especially for you, as an employee eligible to participate in the Tennessee Board of Regents 403(b) retirement plan. As a provider for your retirement plan, AIG Retirement Services is committed to providing personal service whenever and wherever it is convenient for you. 

The plan highlights are only a brief overview of the plan's features and are not a legally binding document. The information in this section does not modify the terms of the plan and in the event of a conflict, the terms of the plan control.

Take advantage today

You are immediately eligible to begin contributing to the plan.

Starting early has its advantages


Employee contributions
Generally, you may contribute as much as 100% of your annual includible 
compensation up to the maximum IRS contribution limit. You may increase or decrease the amount you contribute to the plan as often as your employer allows. 

Contribution limit

Catch-up contributions
You may be eligible for catch-up contributions if you meet the following conditions: 

Catch-up contributions

Stop/change contributions
You may change your contribution amount or discontinue contributing to your plan at any time and resume contributing again later, subject to your employer’s plan provisions. In the meantime, your account will continue to grow on a tax-deferred basis. Please allow one month’s notice for processing.


You are always 100% vested in your own contributions.


Accessing your money before retirement

Your plan was established to encourage long-term savings, so withdrawals prior to age 59½ might be subject to federal restrictions and a 10% federal tax penalty. 

Generally, depending on your employer’s plan provisions, you may withdraw your account balance if you meet one of the following requirements:

  • Attaining age 59½
  • Retirement or separation from service
  • Your death or total disability

The following are some events upon which you may withdraw vested amounts without incurring a 10% federal tax penalty:

  • Attaining age 59½
  • Separation from service at or after age 55
  • Your death or total disability
  • Taking substantially equal payments after separation from service for a period of five years or attainment of age 59½, whichever is later

Federal law requires that you begin taking distributions once you reach age 70½ or retire from the employer sponsoring the plan, whichever is later. 

Distribution options

Depending on your employer’s plan provisions, your withdrawal options include:

  • Transferring your vested account balance over to another tax-advantaged plan that accepts rollovers
  • Receiving systematic or partial withdrawals
  • Taking a lump-sum distribution
  • Choosing one of the many annuity options available
  • Deferring distributions until a later date (but no later than attainment of age 70½) if you are no longer working, allowing your account to continue to grow tax deferred

Generally, income taxes must be paid on all amounts you withdraw from your plan. 

Consult your financial professional for more specific information.