Restart your savings in Texa$aver during National Retirement Security Month

October 06, 2021

graphic of dominos and chess piecesOctober is National Retirement Security Month (NRSM). Are you ready to get in the game and make your next move toward the future you deserve? The Texa$averSM 401(k) / 457 Program can help you play to win when it comes to reaching your long-term financial goals.

Put your financial future in motion

According to Retirement Insecurity 2021, a recent report on Americans’ views of retirement, "more than half of Americans are concerned that the COVID-19 pandemic has impacted their ability to achieve a secure retirement." If challenging circumstances caused you to decrease your personal savings every month, the Texa$aver program can help you get back on track.

Texas state employees should plan to have personal savings, such as a Texa$aver account, to supplement their State of Texas Retirement and Social Security for a financially secure retirement. ERS calls it “the three-legged stool” of retirement income. 

Once you start contributing to your Texa$aver account, you begin a domino effect to help you reach your long-term savings goals. As a Texa$aver participant, you are able to:

  • take advantage of easy-to-use resources on www.texasaver.com to track your progress,
  • meet periodically with a Texa$aver Education Counselor at no cost to you to discuss your financial goals and adjust your strategy and
  • make plans that align with the financial future you are working to achieve.

The money you save in your Texa$aver account—and its potential growth over time—is the key to retirement readiness. Saving a little extra in your Texa$aver account every year may help you with the additional retirement income you’ll need to continue your current lifestyle once you retire. 

Talk with a Texa$aver pro to create a winning strategy

couple viewing virtual meeting on laptopTexa$aver Education Counselors, who are also referred to as Retirement Plan Advisors (RPAs), are financial experts who can help you, as a plan participant, create and manage an investment portfolio based on your individual goals.

Each Texa$aver Education Counselor is available for virtual one-on-one meetings Monday–Friday at no cost to you to help you create a plan to reach your retirement goals.

  • Not sure when you should retire? A Texa$aver Education Counselor can help you determine how long you should work, how much you should save and how your investments should be allocated.
  • Wondering where your money will come from during retirement? A Texa$aver Education Counselor can help you project your future retirement income from all sources, including the ERS Retirement Trust Fund, Social Security, the Texa$aver program and personal retirement accounts like IRAs.
  • Uncertain about your retirement contributions level? A Texa$aver Education Counselor can provide guidance on reaching your retirement goals, including savings rate, withdrawal strategy and investment allocation.

You can find the Texa$aver Education Counselors’ contact information on the Education Counselors Map.

Jumpstart your savings

Whether retirement is five years or 20 years away, NRSM is a good time to jumpstart your savings. Consider increasing your monthly contribution amount to your Texa$aver account now to give yourself the chance to capture more income for your financial future. 

Visit the Texa$aver website to enroll in or make changes to your 401(k) or 457 account any time of the year, or contact a Texa$aver representative at (800) 634-5091 Monday-Friday between 7 a.m. - 9 p.m. CST, and Saturdays between 8 a.m. - 4:30 p.m. CST.