Emanuel is nearing retirement and works at a public school where he participates in both a 403(b) plan and a pension plan. The 403(b) offers a 50% employer match up to 5% of his salary. Emanuel wants to reduce risk in his retirement portfolio. What should Emanuel prioritize as he approaches retirement?

Emanuel should keep contributing enough to receive the full employer match, since that match adds money to his retirement savings. A 50% match on contributions up to 5% of salary means contributing 5% earns the maximum match. Because he wants to reduce risk as retirement nears, he can choose lower-risk investments within the 403(b), rather than investing heavily in stocks. Relying only on the pension or withdrawing his savings would give up valuable retirement resources.

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