Risk Management

• When should I consider life insurance?

  You should consider buying life insurance when someone else depends on your income or financial support. This often includes major life milestones like getting married, having children, buying a home, or taking on significant debt. If you want to ensure that your loved ones can cover everyday living expenses, pay off a mortgage, fund education, or manage final expenses in the event of your death, life insurance can provide essential peace of mind. Even if you're young and healthy, buying coverage early often means lower premiums and more options.

• Should I consider long-term care insurance?

  Long-term care insurance isn’t necessary for everyone, but it can be a smart financial tool for many people—especially those between the ages of 50 and 65 who want to protect their savings from the rising costs of care later in life. It can help cover expenses like in-home care, assisted living, or nursing home stays—costs that aren't typically covered by health insurance or Medicare. If you have moderate to high assets and want to avoid becoming a financial burden to your family, long-term care insurance can offer peace of mind and more control over the type of care you receive. However, if you have very limited income and expect to qualify for Medicaid, or if you have substantial wealth and plan to self-fund future care, a policy may not be necessary. Like most insurance, the key is to plan ahead—before you need it.

• How does a hybrid policy long-term care policy fit into a financial plan?

  A hybrid long-term care policy combines two types of coverage: life insurance and long-term care insurance. With this kind of policy, it protects your assets by covering care expenses that could otherwise drain your savings or force you to rely on family or Medicaid. At the same time, it provides a built-in life insurance benefit, so if you never need care, the money you’ve set aside still benefits your loved ones. Unlike traditional long-term care insurance—which is “use it or lose it”—a hybrid policy gives you more flexibility, predictability, and control. It can also help with legacy planning, by ensuring your heirs receive a tax-free death benefit. If you’re in a strong financial position with cash set aside for future needs—or if you’re considering replacing an older life insurance policy—it could be a smart way to put your money to work more efficiently while still protecting your future.

• When should I consider an umbrella policy?

  If you have assets to protect—such as a home, savings, investments, or even future income—an umbrella insurance policy offers an extra layer of liability coverage that goes beyond the limits of your auto, home, or renters insurance. It’s especially valuable if you own property, have teenage drivers, host guests, or simply want greater peace of mind knowing you’re protected from large lawsuits or unexpected accidents. For a relatively low cost, an umbrella policy can help safeguard everything you’ve worked hard to build, ensuring that one incident doesn’t put your financial future at risk.

• How does Intirety manage investment risk?

  Managing risk in your investment portfolio starts with understanding your goals, time horizon, and comfort level with market ups and downs. We start with one of the most effective strategies in diversification—spreading your investments across different asset classes (like stocks, bonds, and real estate), industries, and geographic regions to reduce the impact of any single loss. We also align your investments with your risk tolerance and time horizon: the closer you are to needing the money (such as for retirement or a major purchase), the more conservative we allocate your portfolio. Regular portfolio reviews and rebalancing prevent your investments overexposure to any one area. Additionally, we stay disciplined during market volatility—avoiding emotional decisions like panic selling to protect long-term returns.

Managing My Account

• Where can I find my account statements and tax forms?

  The financial institution automatically uploads statements online in PDF format either monthly or quarterly, depending on their policy. Tax forms are also uploaded automatically once a year, typically no later than January 30th.

• Who is available to support me when I need one-on-one advice?

  We’re here to support you every step of the way—whether you’re dealing with a technical issue, navigating a complex financial decision, or simply want personalized guidance. If you need tailored advice, our team of financial professionals is ready to provide one-on-one support.

403(b) Plans

• What are the benefits of a 403(b) for a public educator?

  As a teacher, a 403(b) plan is one of the most effective tools you have to build long-term financial security alongside your pension. It allows you to contribute directly from your paycheck—either before taxes to lower your taxable income now, or after taxes through a Roth option for tax-free income in retirement. Your investments grow tax-deferred, meaning you won’t pay taxes on earnings until you take the money out. In 2025, you can contribute up to $23,000 annually, plus an additional $7,500 if you're 50 or older—and some districts even offer a special catch-up for long-time educators. Many school districts allow loans or hardship withdrawals if needed, though it's best to use them carefully. Best of all, a 403(b) gives you flexibility and control beyond your pension, helping you build a more personalized and robust retirement plan.

  
  

   

• Who is eligible to participate?

  All certificated and classified employees in K-12 public education are eligible to enroll in the 403(b) plan right away—no waiting period or minimum hours required. You have the flexibility to join whenever it works best for you and can choose to stop participation at any time

• What happens to the money in the 403(b) plan?

  Your money is invested in a well-diversified portfolio that includes a mix of mutual funds, index funds, and fixed income options like bonds—carefully tailored to your time horizon until retirement and your personal comfort with risk. For guidance on choosing the right investment approach, we recommend speaking with one of our financial professionals.

• Can I set aside money in both a 403(b) and 457 plan??

  Yes, but you must follow the IRS contribution limits for both plans.

• How do I change the amount I’m putting into my 403(b) plan?

  The simplest way to get started is to reach out to your financial professional for assistance. Some school districts offer an online enrollment system, while others may require you to complete a form.
  

• How do I keep track of the money in my account?

  Plans typically provide periodic statements either monthly or quarterly and may also offer online access through their websites, allowing you to view and manage your account at your convenience.

• How often can I change the contribution amount or allocation of investments?

  You have the flexibility to adjust your contribution amount at any time—even pause contributions if needed. You can also reallocate your investments whenever you'd like. However, we recommend consulting with your financial professional before making any changes to your investment strategy.

• What if I have money in another 403(b) plan from a former employer?

  If you’re considering transferring your funds, reach out directly to your financial professional to coordinate the process. It's important to ensure the transfer is between accounts with the same tax treatment to avoid unintended tax consequences. Additionally, confirm that the transfer request is received and processed promptly to help avoid delays.

• When can I make a withdrawal?

  The 403(b) plan is designed for long-term retirement savings, and in most cases, you cannot withdraw funds while you're still employed. To explore your options for transferring funds to a 457 plan or to a 403(b) or 401(k) with another employer, it's best to check with your provider, as rules may vary. If you're under age 59½, early withdrawals could result in tax penalties, so be sure to consult your tax advisor to understand the potential implications.

• What happens when I retire?

  When you retire, you have several flexible distribution options. You can choose to take a distribution immediately after separating from service or defer it to a later year—just be sure to begin no later than April of the year after reaching your Required Minimum Distribution (RMD) age. Depending on your needs, you may take a full lump sum, a partial lump sum, or transfer your account to a personal retirement account like an IRA. Because these options come with important tax considerations, it's a good idea to consult with a tax advisor or financial professional before making your decision.

403(b) Loans

• What are the terms of the loan?

  If you need access to funds, a 403(b) loan can be a helpful option that lets you borrow from your own retirement account without triggering taxes or early withdrawal penalties—so long as it's repaid properly. Repayment typically happens through your personal checking account over a 5-year period, though home purchase loans may allow more time. You'll pay interest—usually at a low rate like prime plus 1%—but the interest goes back into your own account. 

• How do I pay the loan back?

  When you take out a loan from your 403(b), you repay it through a personal checking or savings account—meaning the money is automatically sent back into your retirement account. Your payments include both the principal (the amount you borrowed) and interest, which goes back into your own account to help grow your savings.

• Does the financial institution do a credit check?

  No credit check is required when taking a loan from your 403(b) plan. Since you’re essentially borrowing from your own retirement savings, the loan is based on your account balance rather than your credit history. This makes the process simpler and more accessible compared to traditional loans.

• How long does it take to receive the loan money?

  Typically, once you submit your 403(b) loan application and all required paperwork, it takes about 1 to 2 weeks to receive the funds. The exact timing can vary depending on your plan provider’s process and how quickly your employer handles the paperwork.

• What if I default on the loan?

  If you default on a 403(b) loan—that means you stop making payments or don’t repay the loan by the deadline—the remaining balance is treated as a taxable distribution. This means the unpaid amount is added to your income for that year, and you’ll owe income taxes on it. Plus, if you’re under age 59½, you could also face a 10% early withdrawal penalty. Defaulting can have significant tax consequences, so it’s important to stay on top of payments.

• What is the maximum loan amount I can take?

  The maximum loan amount you can take from your 403(b) plan is generally the lesser of 50% of your account balance or $50,000. If you’ve had any outstanding 403(b) loans in the past year, that amount will be subtracted from the $50,000 limit. This helps ensure you don’t borrow more than what’s manageable.You may only carry one outstanding loan at a time.  

• What are the benefits of a 403(b) loan?

  A 403(b) loan offers a convenient way to access your retirement savings without triggering taxes or penalties—as long as you repay it on time. Unlike withdrawing money, a loan lets you borrow from yourself and pay the money back with interest, which goes right back into your own account. There’s no credit check, so it’s easier and faster to qualify than a traditional loan. This can be a helpful option if you need funds for emergencies, home purchases, to pay off high interest debt like credit cards, or other important expenses, while still keeping your retirement savings intact.