Growing up in a family of teachers, Joseph Sgroi was aware of the dedication it took to be a great educator. In the early 1970s Joe’s dad was retiring from the Buffalo Public schools after 40 years of service while his sister was beginning her teacher career. It was then that he realized there was a need to help all educators receive the support and guidance needed to reach their retirement goals. Sgroi Financial was created to provide that needed service in Western New York.
Fast forward to today, Sgroi Financial is still a proud local supporter, assisting over 3,000 teachers, educators, and other school employees from over 100 school districts across New York State with their 403(b) plans.
What is a 403(b)?
A voluntary plan sponsored by your employer that allows you to:
Contribute toward your retirement, before taxes and tax-deferred
Reduce your taxable income
Contribute according to your budget
Benefit from financial professionals guiding your investments
Take advantage of higher contribution limits than an IRA
$ 100 Per Pay Deposit
x.28 28% Marginal Tax Bracket (22% Fed.- 6% NYS)
$ 28 Per Pay Decrease in Withholding Tax
$ 100 Per Pay Deposit
-28 Weekly Decrease in Federal Withholding Tax
$ 72 Decrease in Take-Home Pay
The information presented above should only be relied upon when coordinated with individual professional advice; individuals should always seek tax advice from their own CPA or tax advisor. Case studies/Examples are for illustrative purposes only and are not intended to represent the past or future performance of any specific investment. Certain taxes may vary from State to State so actual results will vary.
How to Set-up Your 403(b) Account
Meet with a Sgroi Financial Planner at your convenience! (In office, virtually, over the phone)
We have an efficient, quick, and paperless set-up process
We’ll fill out and submit all documentation (including your Salary Reduction Agreement) to get your account set up
What Are the Fees?
At Sgroi Financial, we believe it is important to be transparent in our pricing.
Sgroi Financial Management Fee for new 403(b) accounts is 1.1%
In addition to our 403(b) expertise, Sgroi Financial is a full-service financial firm also providing:
Life, Disability & Long-Term Care Insurance
Let our experience work for you!
Take advantage of Sgroi Financial’s more than 50 years of experience with 403(b)s. You’ll be guided by a team of experienced fiduciaries who work in your best interest
Wide range of investment options including mutual funds, ETFs, and annuities.
Easy online access to quarterly statements
Invest as little as $10 per pay period
What We Offer
Fast, efficient paperless set up
No surrender charges
Ability to set up and/or transfer your existing 403(b) account
Management of your account and the investments selected
Guidance for your overall financial plan
The Pencil Project
Each year, Sgroi Financial reward five hard-working teachers in Western New York with $500 towards their classrooms as part of their Annual Pencil Project. Learn more about the promotion and the past award recipients!