Retirement Plans
Galena Park ISD Deferred Compensation Investment Information
**Galena Park ISD will never direct you to invest your money with a particular vendor. Any investment you make is at your own discretion. Galena Park ISD will not send you emails to make appointments with specific vendors.
FYI: Each year investment vendors request your contact information through the Open Records Act. These vendors have been known to solicit you through email. If you are unsure of an email you have received, please check with the Employee Benefits Department to verify its validity.
Retirement Plan Information
Galena Park ISD offers both traditional and Roth options as investment plans to supplement your retirement income. These accounts are funded by your contributions through payroll deduction only. Consider an investment plan for your retirement needs.
TCG Administrators
TCG Administrators has been contracted to serve as the Third Party Administrator (TPA) for this service.
If you need assistance, you may contact TCG
🕗 Hours: Monday – Friday, 8:00 AM – 5:00 PM CST | 📧 Email: customerservice@tcgservices.com | 📞 Phone: (800) 943-9179
You can also schedule a callback with the Customer Service Team using this link: https://tcgservices.com/appointment/
401(a) Retirement Savings Match Plan
The GPISD Board of Trustees believes that stable and talented leadership, at the district and campus levels, leads to long-term student success. In order to foster that stability, Trustees approved the creation of a 401(a) Retirement Savings Match Plan on June 25, 2025. This plan will support District priorities of gaining a recruiting advantage, fostering leadership stability, and communicating commitment to key staff. Eligible staff have been contacted.
403(b) Plan Information
A 403(b) plan is a retirement savings plan generally offered by public schools and other tax-exempt organizations that allows employees to make contributions on a pretax or post-tax basis. Most plans allow you to start, stop, increase or decrease contributions at any time. The investment providers are determined and approbed by TCG Administrators and employees must open an account with one of those providers to contribute.
- 2025 Contribution Limit: $23,500 as established by the IRS each year.
- An additional amount is permitted for those age 50 and over as a savings “catch-up.”
- Employees can contribute to any of the approved investment plans, and may contribute to both a 403 and a 457 plan.
- Distributions are available under the following conditions: Separation of Service, Age 59 1/2, Death, Disability, or Retirement
- There is a 10% early withdrawal penalty before age 59 ½ (some special conditions apply, see your 403b vendor for a list of special exceptions).
- Loans and hardship withdrawals may also be available and subject to availability, eligibility, and any additional conditions.
- No administrative fees.
Age 50 Catch Up
Participants age 50 and older at any time during the calendar year are permitted to contribute an additional $7,500. Contributions in the deferred compensation plans may be started and stopped at any time throughout the year.
457(b) Plan Information
A 457(b) is a retirement savings plan that allows employees to make contributions on a pretax basis, thus income taxes are deferred until your assets are withdrawn. Roth after-tax options are available as well. Most plans allow you to start, stop, increase or decrease contributions at any time. The contribution limits are separate from those of 401(k) and 403(b) plans and more flexible withdrawal options are often available.
- 2025 Contribution Limit: $23,500 as established by the IRS each year.
- An additional amount is permitted for those age 50 and over as a savings “catch-up.”
- Employees can contribute to any of the approved investment plans, and may contribute to both a 403 and a 457 plan.
- Your funds may be rolled over to a another qualified plan, upon termination of service.
- Distributions are available for the following: Separation, Death, or Disability.
- While still employed, loans and unforeseen emergency withdrawals may be available.
- TCG Fees apply. See Summary Plan Description
Age 50 Catch Up
Participants age 50 and older at any time during the calendar year are permitted to contribute an additional $7,500. Contributions in the deferred compensation plans may be started and stopped at any time throughout the year.