Additional information about vendor’s experience in California and other states:
Life Insurance Company of the Southwest (“LSW”) is a Dallas, TX based life insurance company which only offers group and individual annuities as defined under section 403(b)(1) of the Internal Revenue Code. LSW specializes in the design, administration, and marketing of tax deferred retirement vehicles in several markets but with an emphasis in the 403(b) marketplace. LSW is an authorized TSA provider for over 7,000 school districts, universities, and not-for-profit organizations. LSW maintains a regional sales office dedicated to the California 403(b) marketplace. LSW is represented in California by several independent marketing organizations as well as by over 800 professional independent agents.
Life Insurance Company of the Southwest
Life Insurance Company of the Southwest (LSW) based in Addison, Texas is a wholly-owned subsidiary of National Life Insurance Company and recognized as an industry leader in annuity and life insurance products.
National Life purchased the majority interest in Life Insurance Company of the Southwest, purchasing the remaining interest three years later.
via National Life Group.
What is a 403(b)?
A 403(b) plan is a retirement savings plan for employees of public schools, non-profits and certain churches. This is a retirement plan in addition to any type of pension your employer may offer. With a traditional 403(b) plan your contributions are tax-deferred, meaning you pay taxes on the money when you take it out of the plan. With a Roth 403(b) plan you pay taxes on the contributions up front, but the money grows tax-free.
What is a 457(b)?
A 457(b) Plan is a supplemental retirement plan for governmental and certain non-governmental employers. This type of plan is tax-deferred, which means you pay taxes on the money when you take it out of the account. A 457(b) plan has many flexible features that allow you to save on a tax-deferred basis while still having access to your money through loans, and unforeseen emergency distributions if the need arises.
If your employer offers both a 403(b) plan and a 457(b) plan you can maximize your retirement savings by contributing the maximum allowed to both plans.
Competitive interest rate: our fixed annuity earns a competitive interest rate.