Congratulations! By enrolling in the Joint Retirement Board for Conservative Judaism 403(b) Retirement Plan (JRB), you’ve taken the first step in building financial independence in retirement. But, how can you make the most of the benefits the JRB offers?
Step 1: Think of Yourself as a Long-Term Investor
As JRB’s former CEO Mitch Smilowitz says – Retirement is the most expensive purchase you’ll make in your lifetime, so it’s crucial that you save enough to afford the 20-30 years you’ll likely spend retired. Only you can do it. A bank won’t loan you the money to pay for retirement. You don’t want to place the burden on your children. And, you can’t generate the savings you’ll need in just a few years before you retire. Most of us need our entire working lives to build financial security in retirement.
Step 2: Review Your Salary Reduction Agreement
You decide how much you want to contribute, up to federal maximums, and you can change the amount whenever you like. When you enrolled, you signed a Salary Reduction Agreement that established the amount you want to contribute to your JRB Retirement Account. If you want to change the amount you contribute, speak to your payroll administrator and sign a new Salary Reduction Agreement. Your employer can assist you to change the contribution at any time. Your employer may also make contributions on your behalf.
If you are 50+, you are eligible to make additional “catch-up” contributions. If you are 60-63 years old, your catch-up limit is even higher.
The JRB sends you a confirmation for each contribution made to your account.
Step 3: Traditional Pre-Tax or Roth After-Tax Contributions?
Traditional pre-tax contributions lower taxable income in the year you make them. Your savings grow tax-deferred and withdrawals are taxable in retirement as ordinary income.
Roth contributions are made after-tax, so they do not reduce your taxable income today. Your savings grow tax-free and qualified withdrawals are tax-free.
Employer contributions are made on a pre-tax basis and will be taxable when withdrawn, regardless of whether you make Roth or Traditional pre-tax contributions. Clergy should consider the parsonage allowance in retirement when considering Roth contributions.
Step 4: Review Your Investment Portfolio
The JRB offers a wide range of mutual funds and collective investment trusts that cover the major asset classes (large-cap companies, mid- and small-cap companies, bond funds, international equities) and management styles (active and passive). We also offer a full range of target date funds, a stable value interest fund and, twice yearly, an Israel Bonds Offering.
At the time you enrolled in the JRB Retirement Plan, you selected the investments for your account and the percentage of your contributions to be allocated to each investment. You provided this information on the JRB Enrollment Form.
Your retirement savings account is self-directed. This means that you choose the investments in your account and make sure they align with your financial goals, risk profile and time horizon. It is prudent to make sure that your portfolio is diversified. Having an appropriate mix of stocks, bonds and cash can help your account grow and manage investment risk.
Take a look at these model portfolios to get an idea of how to build an investment mix that fits your need for growth and comfort with risk.
Step 5: Schedule a Complimentary Financial Consultation
A Complimentary Financial Consultation can help you determine if your investment allocation is appropriate for your age and risk tolerance, how much income you can expect from your JRB account in retirement, how other investments fit into your overall asset allocation and how to balance retirement saving with other financial goals.
Schedule a Complimentary Financial Consultation.
Once you make your initial investment allocation, it remains in effect until you decide to change it. You can change your investment mix as frequently as you like, at no charge. This includes transferring money from one fund to another changing the percentage of new contributions that are allocated to each fund and rebalancing your account holdings to maintain your asset allocation.
You can use the JRB’s online portal, operated by our recordkeeper Alerus, to review your account and update your account holdings. Learn about how to use the Alerus online portal and mobile app (get the mobile app, called Alerus Retirement, on Apple’s App Store and Android’s Play Store). You need to set up your Alerus account before using the mobile app.
Step 6: Take Advantage of These Other JRB Benefits
The JRB offers complimentary disability insurance, pension continuation insurance (in the event of a disability) and life insurance to all eligible plan participants. These benefits are designed to supplement – not replace – the other insurance coverage you already have. The Mutual of Omaha Insurance Company underwrites these policies on behalf of the JRB.
You are automatically enrolled in the JRB Complimentary Insurance Program once you contribute at least $1,200 in a calendar year (coverage begins the following year on January 1st). You must continue to contribute at least $1,200 each year to remain in the program. Contributions from your employer as well as your voluntary salary contributions count towards the $1,200.
The JRB knows that our plan participants have strong feelings about the end-of-life medical care they will receive and the distribution of their assets when they pass away. To maximize the chance that your wishes are followed, the JRB offers complimentary state-by-state interactive forms sponsored by the Mutual of Omaha Insurance Company, the underwriter of the JRB’s Complimentary Insurance.
You can take a loan from your account for personal financial reasons. The JRB urges you to use this cautiously because loans against your retirement account may significantly reduce the balance available when you retire.
Conclusion
Congratulations on joining the JRB. We look forward to working with you to build a financially secure retirement. Visit our Learning Center for short articles, checklists, and tools you can use any time.
Bookmark these pages for quick access.
- Account Online (log in, view your balance, and review activity)
- Contributions (limits, catch-up, and how to change your deferral)
- Roth and Traditional (a quick overview of how each works)
- Forms Library (enrollment packet, beneficiary, and distribution forms)
- Learning Center (browse articles by topic)
- Schedule a Consultation (complimentary and confidential)
February 2026