Parish and School 403(b) Plans

Catholic Knights provides tax-sheltered annuities for 403(b) plans. Employees of religious, charitable, educational, scientific and literary organizations or public school systems are eligible for these tax-advantaged plans.

Administrators can help make planning for retirement easier for staff by offering this special retirement investment and savings program. The 403(b) program was established by the U.S. government exclusively for employees of organizations that qualify for tax-exempt status under the IRS Code Section 501(c)(3).

The 403(b) program is a qualified plan and allows for pre-tax payroll deductions by employees to be invested in a tax-sheltered annuity contract or in a custodial account made up of mutual funds. These contributions, along with earnings, grow tax-deferred until retirement, when distributions are then taxed as ordinary income.

Catholic Knights annuities can serve as a key component of the 403(b) plan of a Catholic parish, school, charity or other non-profit organization.