Carruth Compliance Consulting

     Retirement Readiness      For Employees      For Employers      For Vendors      About Us      Contact Us 

    Login   
Skip Navigation Links.

Fossil School District Plan Document Page

CCC's Relationship with Fossil

CCC serves as the third party administrator (TPA) of the 403(b) Tax-Sheltered Annuity Plan (TSA) and primary point of contact for the Fossil 403(b) Plan since 10/7/2007.

The Plan Has Few Optional Features

Because the Fossil School District 403(b) TSA Plan has so few participants, and because new IRS Regulations require significant Employer oversight responsibilities to administer a full-featured Plan, it would not be cost-effective for Fossil to offer a 403(b) Plan that allowed loans, hardship distributions, exchanges, transfers, rollovers, and other optional features generally available in 403(b) Plans. Therefore, the Fossil 403(b) Plan allows only the following two optional features (see Plan Document for details):

  • Age 50+ Catch-up Provision; and
  • In-Service Distributions After Age 59-1/2

 

Fossil School District Participation Eligibility Policy

Any individual who receives a paycheck from Fossil School District is eligible to make elective deferrals to the Employer’s 403(b) TSA Plan. This includes all regular full-time or part-time employees, all substitute teachers, and even student employees. Fossil School District encourages you to take advantage of this excellent supplemental retirement savings plan.

Plan Document for Fossil

If you'd like to review Fossil official board-adopted Plan Document governing 403(b) policies for Employees of Fossil, you may do so here. The Plan Document is maintained by Carruth Compliance Consulting, Inc. (CCC) for Fossil School District on a contractual basis.

Participation Eligibility and Contribution Limits (Fossil School District)


2018 403(b) TSA Announcement for Fossil


Supplemental Retirement Saving Opportunities

Fossil School District 21J (Fossil) offers an excellent program through which you may contribute a portion of your current income into supplemental retirement savings accounts. The Fossil supplemental retirement savings program is offered under Section 403(b) of the Internal Revenue Code, and is called the Tax-Sheltered Annuity Plan (TSA Plan). Fossil has adopted the services of Carruth Compliance Consulting, Inc. (CCC), an independent third party administrator, to provide compliance and administration services for the 403(b) TSA Plan.

All part-time and full-time employees are eligible to contribute.

You may begin making elective deferrals in the TSA Plan at any time by establishing an investment account with an authorized vendor and then completing and submitting a salary reduction agreement via signed hard copy.

Contribution Limits for 2018

The basic elective deferral limit for 2018 is the lesser of $18,500.00 or 100% of your compensation.

If your 50th birth date occurs on or before December 31, 2018, you are eligible to defer an additional $6,000.00, provided your compensation is large enough to allow the extra deferral.

Finally, if you will have at least 15 years of full-time equivalent service with Fossil by December 31, 2018, then you may be eligible to contribute up to an additional $3,000 during 2018. If you are planning to make contributions to utilize this catch-up feature, please contact CCC to confirm your maximum allowable contributions for 2018.

Plan Information Is Available on the Web

Comprehensive information about the Fossil TSA Plan is available on the web at www.ncompliance.com, including enrollment procedures, a salary reduction agreement form, vendor information, transaction information, and educational materials. If you are starting contributions to a new vendor, you must provide documentation that you have established an account with the vendor. Subject to payroll deadlines, you may change vendors and/or increase, decrease, or stop contributions at any time by submitting new salary reduction agreements. Educational information is available on the CCC website to make it easy for you to learn more about supplemental retirement savings plans and retirement readiness. We encourage you to explore this information at www.ncompliance.com/education.aspx.

Participant Responsibilities

When contributing to an employer-sponsored supplemental retirement savings plan, it is important that you monitor your account activity regularly for accuracy (e.g., deposits of your contributions) and make sure your contact information and beneficiary information are up-to-date. If you believe that a problem may exist, please contact the Third Party Administrator (see contact information below) or your employer immediately.

Additional Information Is Available from Third Party Administrator

Fossil has adopted the services of Carruth Compliance Consulting, Inc. (CCC), an independent third party administrator, to provide compliance and administration services for the 403(b) TSA Plan. For questions regarding your Employer’s TSA Plan, please contact CCC at:

Carruth Compliance Consulting, Inc.
11515 SW Durham Road, Suite E-10
Tigard, OR 97224
Phone: 503-968-8961
Toll-Free: 877-222-3090

Click here for rendered version of 2018 Eligibility & Limits Announcement for Fossil


2017 403(b) TSA Announcement for Fossil


Supplemental Retirement Saving Opportunities

Fossil School District 21J (Fossil) offers an excellent program through which you may contribute a portion of your current income into supplemental retirement savings accounts. The Fossil supplemental retirement savings program is offered under Section 403(b) of the Internal Revenue Code, and is called the Tax-Sheltered Annuity Plan (TSA Plan).

All part-time and full-time employees are eligible to contribute.

You may begin participating in the TSA Plan at any time, by establishing an investment account with an authorized vendor and then completing and submitting a salary reduction agreement via signed hard copy.

Contribution Limits for 2017

The basic elective deferral limit for 2017 is the lesser of $18,000 or 100% of your compensation.

If your 50th birth date occurs on or before December 31, 2017, you are eligible to defer an additional $6,000, provided your compensation is large enough to allow the extra deferral.

Finally, if you will have at least 15 years of full-time equivalent service with Fossil by December 31, 2017, then you may be eligible to contribute up to an additional $3,000 during 2017. If you are planning to make contributions to utilize this catch-up feature, please contact CCC to confirm your maximum allowable contributions for 2017.

Plan Information Is Available on the Web

Comprehensive information about the Fossil TSA Plan is available on the web at www.ncompliance.com, including enrollment procedures, a salary reduction agreement form, Vendor information, transaction information, and educational materials. If you are starting contributions to a new Vendor, you must provide documentation that you have established an account with the Vendor. You may increase, decrease, or stop contributions to the TSA Plan or change the Vendor receiving contributions at any time, by submitting a new salary reduction agreement. Educational information is available on our website to make it easy for you to learn more about supplemental retirement plans and retirement readiness. We encourage you to explore this information at www.ncompliance.com/education.aspx.

Participant Responsibilities

When contributing to an employer-sponsored supplemental retirement savings plan, it is important that you monitor your account activity regularly for accuracy (e.g., deposits of your contributions) and make sure your beneficiary and your contact information is up-to-date. If you believe that a problem may exist, please contact the Third Party Administrator (see contact information below) and/or your employer immediately.

Additional Information Is Available from Third Party Administrator

Fossil has adopted the services of Carruth Compliance Consulting, Inc. (CCC), an independent third party administrator, to provide compliance and administration services for the 403(b) TSA Plan. For questions regarding your Employer’s TSA Plan, please contact CCC at:

Carruth Compliance Consulting, Inc.
11515 SW Durham Road, Suite E-10
Tigard, OR 97224
Phone: 503-968-8961
Toll-Free: 877-222-3090
E-mail:  Submit A Question To CCC