A Word from the CEO

The JRB hopes you shared a happy holiday season with family and friends and enter 2024 with renewed energy.

This issue of the Financial Pulse includes the second article in our two-part series on how to reduce the taxes you pay. This month we address tax credits. While tax deductions reduce your Adjusted Gross Income (AGI), tax credits reduce the amount of tax you pay based on your AGI. To see the article on tax deductions, click the link in the In Case You Missed It section below.

While you are thinking about how to reduce your taxes, consider that January is a good time to increase your retirement contribution. You'll lower the taxes you pay while building long-term financial security. In addition to reducing your taxes, you may be eligible for a tax credit up to $2,000 on contributions to a retirement account such as The JRB 403(b) Retirement Plan. The tax credit is especially valuable to those with lower incomes.

We are pleased to report that the JRB Board of Trustees negotiated a major increase in the life insurance benefit included in our Complimentary Insurance Program. Beginning January 1, 2024, the life insurance benefit provided by Mutual of Omaha increases from $10,000 to $30,000. All participants contributing at least $1,200 annually to their JRB retirement account are automatically enrolled in the Complimentary Insurance Program.

Finally, the JRB bids a fond farewell to long-time Board member Rabbi Gilah Dror. She was the third woman to serve on the Board and, for many years, chaired the Communications Committee. During her tenure she also served on the Budget, Investment Review, Bylaws and Nominations Committees. Her wise counsel will be missed.

If you have questions about your taxes, increasing your retirement contribution or your overall financial goals, please contact us via email or call us at 888-JRB-FREE (572-3733).

L'Shalom,