Why a 403(b) matters
Your pension rewards your years of service with predictable retirement income. Your 403(b) lets you take charge of another part of your retirement strategy, building tax-advantaged savings through your own contributions.
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The role of a 403(b)
A pension and 403(b) are built differently and can serve different purposes. Here are five ways a 403(b) can add another layer to your retirement strategy and help strengthen your financial foundation.
Your pension is based on a formula you do not control. Your 403(b) is different—your decisions help drive the outcome. How much you contribute, how long you contribute, and the choices available through your plan all influence what you may build over time.
Your pension is intended to provide you with a guaranteed monthly income during your retirement. Your 403(b) gives you a separate way to build retirement assets based on what you contribute and how those contributions grow over time.
Every contribution adds to your retirement. The amount you contribute, how consistently you save, and the time your money has to grow and compound all play a role in what you build for the future.
Retirement can bring expenses and opportunities that do not fit neatly into a monthly income stream. Healthcare, home repairs, family needs, major purchases, and unexpected costs can all become part of retirement. So can the things you want to enjoy, like travel, hobbies, and other personal goals.
Your 403(b) can give you another pool of retirement assets to draw from alongside your pension income.
Your pension can provide steady monthly income. Your 403(b) can give you another source of retirement assets for larger expenses, changing priorities, and the opportunities you want to pursue.
The more retirement resources you build, the more flexibility you can have in how you use them.
Retirement readiness in America
National research shows that having retirement savings does not always mean feeling prepared. Many Americans are saving, yet fewer say they are on track—and many still do not know where to turn for retirement guidance.
59%
59% of U.S. adults report having money invested in a retirement savings plan, such as a 401(k), 403(b), or IRA.
Source: Gallup, 2026
35%
35% of non-retired U.S. adults say their retirement savings are on track for retirement.
Source: Federal Reserve, 2026
More Than 2 in 5
More than two in five workers say they do not know where to turn for financial or retirement-planning advice.
Source: EBRI / Greenwald Research, 2026
National statistics shown for educational context and reflect the populations identified by each source. They are not specific to teachers, public-school employees, or 403(b) participants.
A conversation can help
If you want to better understand the role a 403(b) can play alongside your pension, we are here to help you review your options and next steps.
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