Most retirees age 65+ haven’t saved enough in retirement to cover their expected health costs, let alone the rest of their living expenses.
How Nonprofits Can Help
As a nonprofit, you have the unique ability to allow your retirement program to do “double duty” by adding a retirement health savings benefit. Adding a defined contribution Emeriti Retirement Healthcare Savings Program (RHSP) provides triple tax -free savings – to the employee on employer contributions, investment earnings and qualified reimbursements – and has the added bonus of not being subject to FICA taxation.
Here are Just a Few of the Benefits
The Emeriti RHSP, offered by TIAA, is a unique platform that nonprofits – including some of the nation’s most prestigious institutions – are using for retiree medical benefits. The program is not exclusive to TIAA retirement plans, so any nonprofit can add this program alongside its existing retirement plan.
To learn more, contact Andrea Kessler, Business Development Director at firstname.lastname@example.org or 301-656-6545.