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     Deferred Compensation Retirement Plans
                  

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    403(b) Administrator
     


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    457(b) Administrator

     888-796-3786

     

     844-525-2873 

     

    The 403(b) and 457(b) voluntary deferred compensation plans are available to active employees.  They allow for the investment of pre-tax earnings, through automatic payroll deductions, to save for retirement. 

     

    Any investment gains/losses are tax-deferred until withdrawn.  Contributions may also lower current income taxes.

     
    For more resources on the District Sponsored 457(b) plan, visit Voya Financial®.
     
            
                                                               Quick Comparison
     403(b) Plan  457(b) Plan

    10% early withdrawal federal tax penalty if not age 59½ regardless   of separation from service.

    No 10% early withdrawal federal tax penalty after separation from service.
    Withdrawals made prior to separation from service or prior to age 59½ can only be made due to financial hardship.   Withdrawals made prior to separation from service or prior to age 70½ can only be made in an unforeseeable emergency.

All active employees (with the exception of Board Members and student workers) are eligible to enroll in either or both plans.

Individuals under age 50 may contribute up to $18,000 per plan per year.

Individuals age 50 or older may contribute up to $24,000 per plan per year.

Limits may change yearly based on IRS regulations.

Contributions may begin at any time.  It may take one or two payroll cycles before the first deduction, or any changes, is reflected.

 

Visit TSA's Investment Provider List to view available Investment Providers.

Open an account with any of these providers by completing the provider's application. Applications are available only from the Investment Providers.

Once an account with the Investment Providers of your choice is established, create an account with TSA Consulting's login/account setup page.

 

Voya Financial® replaced TIAA-CREF as the new plan administrator for the District's sponsored 457(b) Deferred Compensation Plan. This change became effective January 1, 2017.

 

To setup and/or make any contribution changes, login to TSA and click on "Salary Reduction Agreement" found under the "Services" tab on the menu bar. 

An establised account with an Investement Provider is required to setup and/or make contribution changes.

 

To make any contribution changes to your 457(b) plan, login to Voya Financial® and click on "Change Contributions" found under "Account" on the menu bar.

 

The TSA Consulting site allows participants to make various transactions, such as: 

     · Transfers
     · Withdrawals, Surrenders, and Hardship Distributions; and
     · Loans

To request any of these transactions, login to TSA and click on the desired transaction found under the "Services" tab on the menu bar.

 

The Voya Financial® site allows participants to make various transactions, such as: 

     · Transfers and Rollovers
     · Withdrawals, Surrenders, and Hardship Distributions; and
     · Loans

To request any of these transactions, login to Voya Financial® and click on desired transaction under the "Manage Investment" section found under "Account" on the menu bar.

 

 

As of January 1, 2017, all 457(b) accounts with the exception of TIAA Traditional Account were transferred to Voya Financial®.  For TIAA Traditional Account information, visit TIAA or call 800-842-2252.  Please note: your TIAA Traditional Account does not allow you to contribute money, take loans, or take emergency withdrawals.  Assets from your TIAA Traditional Account may be transferred to Voya Financial® by completing the "TIAA Request for a Direct Transfer" form and submitting it to TIAA.  

 

Retirement Investment Advisory Committee

The Retirement Investment Advisory Committee (RIAC) oversees the administration and implementation of the 403(b) and 457(b) plans as well as the Public Agency Retirement System (PARS).  Its main responsibility is to advise the District’s Chief Financial Officer.

The RIAC is comprised of representatives of the various labor unions, an appointee for the District’s Board of Education, an appointee for the District’s Chief Financial Officer, staff from the District’s Benefits Administration, members at large, the 403(b) and 457(b) third-party administrators, TSA Consulting Group and Voya Financial®, as well as staff from SST Benefits Consulting and PARS.
 

RIAC Meeting Minutes August 2017

RIAC Meeting Minutes June 2017

RIAC Meeting Minutes May 2017

RIAC Meeting Minutes April 2017
RIAC Meeting Minutes March 2017 
RIAC Meeting Minutes February 2017 
RIAC Meeting Minutes January 2017 
RIAC Meeting Minutes 2016 
RIAC Meeting Minutes 2015 
RIAC Meeting Minutes 2014 
RIAC Meeting Minutes 2013 
RIAC Meeting Minutes 2012 
RIAC Meeting Minutes 2011 
RIAC Meeting Minutes 2010

 

 

To view 403(b) and 457(b) related documents, please visit the Deferred Compensation section of the Forms and Publications page.

 

The TSA Consulting site allows retirees to make various transactions, such as: 

     · Loans
     · Hardship Withdrawals; and
     · Distributions

To request any of these transactions, visit TSA Consulting's Retirees Submission of Transaction Requests Page.

For 457(b) transactions, login to Voya Financial®.