As of now, if you have five years or more in the TRS system, you are fully vested. Although you are not eligible for the TRS health insurance, you could still receive a monthly pension.

For every year bought back, you will pay a 9% fee.

While most school districts allow you to transfer your current 403(b) to your new ISD and continue your contributions, there are a few districts that do not authorize the transfer. In this case, you will need to open a new 403(b) contract with your existing provider, or a new one of your choice, in order to stay on pace for your retirement goal.

The 403(b) follows the same IRS regulations as a 401(K). You are not able to withdraw until a qualified event occurs, i.e., separation from service, age 59 1/2...

While your contributions are not tax deductible, your earnings are 100% tax-free.

Yes! You will forgo the early withdrawal penalty of 10% at tax time for that year; however, if the withdrawal is made before the owner turns 59 1/2, taxes will be assessed on the gains only.

Your savings account through your bank is classified as such. Contributing in a non-qualified account through an insurance company allows you to have a much higher earnings potential.

Contributions are not deductible, and taxes are only paid on earnings in the years withdrawn.

Yes, but there may be a 10% early withdrawal penalty on the gains only if not withdrawn for a qualified event.

While a whole life policy does build up a cash value, you can save a phenomenal amount in monthly premiums by choosing term and investing the difference.

Probably. Here's the exception: If you are still employed and have employer’s group insurance (with a company that has more than 20 employees), you (and your covered spouse) do NOT have to sign up at 65. You will NOT be penalized as long as you are covered by your employer’s group plan. For everyone else, YES, you need to sign up at 65 to avoid paying a Part B penalty (for the rest of your life).

YES and NO.

Part A (Hospital Services):
Part A is “free” for most people because your lifetime FICA tax contributions have paid for your hospital benefits. There is a hospital deductible for days 1–20, which changes every year ($1,676 for 2025). You can buy a Medicare Supplement plan to cover all hospital deductibles (Plans G and N are the most popular options).

Part B (Medical/Outpatient Services):
Part B is not free; it has a monthly premium that changes each year. ($185 for 2025). Original Medicare covers 80% of services, and you are responsible for the remaining 20%. You can buy a Medicare Supplement plan to help cover the 20% (Plans G and N are the most popular options).