What is a 403(b) Plan?
In public educational organizations like School Districts and Community Colleges, 403(b) Plans generally serve as supplemental retirement savings plans designed to supplement retirement benefits available from State pension plans and Social Security. The IRS provides a Summary of 403(b) Plan Basics page and a 403(b) Plan Brochure for Employees on its website. Many of the topics covered there are treated in even greater detail on this CCC website, whereas some other topics covered there are not applicable to public employers.
Online Access and Enrollment
New and Current Participants
*Please note: You must have an established account with a vendor in the plan to begin contributions.
- Current employees may submit a Salary Reduction Agreement (SRA)* and manage contributions by creating an Online Account. Click Here to create an Online Account.
- CCC encourages you to establish an online login account and use CCC’s online enrollment system to manage your plan participation. However, if you do not wish to create an Online Account but wish to enroll, you may submit an SRA* in paper format. Click Here to access a printable SRA form.
Participants with Established Online Login Accounts
- If you have already created a Online Login Account, Click Here or click the "Login" link in the upper-right-hand portion of this screen to login and access your account.
Please visit the "Why Partipicate?" page for additional information on the benefits of utilizing the 403(b) plan.
Plan Document for ZZY Schools (Hypothetical)
ZZY Schools (Hypothetical) has a 403(b) Plan Document that governs 403(b) policies. For more information, please click here.
Which Optional Features Does the District Allow in its 403(b) Plan?
403(b) Optional features are either included in, or excluded from, the Plan, as specified below and as further described in the parenthetically referenced sections in the Plan Document for ZZY Public Schools 7J (Hypothetical). These options are listed here in abstract for convenient reference:
Catch-ups under the Plan
- 15 Years-of-Service Catch-up Elective Deferral Contributions: Yes
- Age 50 Catch-up Elective Deferral Contributions: Yes
Contributions to the Plan
- Direct Rollovers Into the Plan: Yes
- Employer Contributions Allowed: Yes
- Employer Post Severance Contributions Allowed: Yes
- Exchanges Within the Plan: Yes
- Roth Contributions: Yes
Other Plan Transactions
- Hardship Distributions: Yes
- In-service Distributions After Age 59-1/2: Yes
- In-service Distributions From Rollover Accounts: Yes
- Loans: Yes
- Permissive Service Credit Transfers: Yes
- Plan-to-Plan Transfers To the Plan: Yes
- Plan-to-Plan Transfers From the Plan: Yes
Roth Contributions Available
ZZY Schools (Hypothetical) allows Roth 403(b) contributions to any ZZY Schools (Hypothetical) vendor that will accept such contributions. Roth 403(b) contributions are after-tax contributions, in contrast to traditional pre-tax 403(b) contributions. Note: To make Roth contributions you must have a separate account opened with a vendor that is specially designated as a Roth 403(b) account. Please follow the 403(b) enrollment procedures. The availability of Roth 403(b) accounts vary by vendor. Roth 403(b) contributions cannot be made to a traditional 403(b) account.
Am I Eligible To Participate? How Much Can I Contribute?
Please review the Eligibility and Limits Announcement for a full description of the employees eligible to participate and the contribution limits that apply.
ZZY Schools (Hypothetical) does not require any minimum monthly contribution amount.
How Do I Begin, Change, or Cancel Contributions?
Please review the 403(b) Enrollment Procedures for step-by-step instructions on how to beginning participation, how to change your vendor or contribution amount, or how to end contributions to the plan.
What Are My Investment Options?
Please visit the 403(b) List of Vendors page for the options offered under the ZZY Schools (Hypothetical) 403(b) plan.
Basic Information About Products
Investment products for 403(b) plans may be broken down into the following investment types:
- Fixed Annuities
- Variable Annuities with a Fixed Account
- Variable Annuities without a Fixed Account
- 403(b)(7) Custodial Mutual Funds (No-Load)
- 403(b)(7) Custodial Mutual Funds (Load)
- 403(b)(7) Custodial Mutual Funds (Deferred Sales Charges)
Various vendors may offer one or more of these types of investments. Look for fund profiles, performance, prospectuses, and fees associated with specific vendors in the column to the right for information about particular offerings.
How do I choose a Vendor?
Generally speaking, vendors market their 403(b) investment products using one or more of the following approaches:
- Agents Who Are Contracted Exclusively with the Vendor
- Independent 403(b) Practitioners
- Regional or Central Office Employees
- Seminars, Meetings, and/or Brochure Distribution
Learn more about choosing an investment
What If I Need Financial Advice?
Click on this link for information about the financial advisor industry and helpful suggestions about how to locate one or more qualified, professional, and licensed financial advisors that meet your needs. Learn More
When, How, and Under What Circumstances Can I Access My 403(b) Account?
A transaction's availability may be limited by IRS guidelines, the employer's plan and/or the underlying investment contract. Please see the column on the left for a summary of the Optional Features (including transaction types) allowed under the ZZY Schools (Hypothetical) 403(b) Plan Document. To learn about the transactions (such as there definitions and qualifying events) and how to obtain plan administrative authorization on a transaction, please visit the 403(b) Transaction Information page.
Why did ZZY Schools (Hypothetical) Adopt CCC Services?
403(b) Plans are subject to complex rules and administrative responsibilities. As a result, ZZY Schools (Hypothetical) adopted the services of Carruth Compliance Consulting, Inc., an Independent Third Party Administrator (TPA).