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Finley School District Vendor Information

Information For Vendors

CCC serves as the clearing house for all aspects of plan administration except for the standard Payroll functions of receiving Salary Reduction Agreements, data entry into the Payroll system, and remittance of contributions to investment companies. The For Vendors main site button up top leads to Vendor-specific information designed to assist vendors in providing up-to-date company and agent information and to assist vendors in seeking payroll slots.

Interim Good Faith Resolution

As time ran out before the 12/31/2008 deadline, CCC proposed an innovative option: Effective 11/22/2008, Vendors were offered the option to enter into a Good Faith Compliance Resolution with CCC, under which the Vendor, CCC, and affected CCC Client Employers would agree to continue existing Vendor relationships with CCC Client Employer 403(b) Plans beyond 12/31/2008, with the understanding that agreements will be reached and information will be shared that are acceptable to all three parties no later than 6/30/2009. Now that the IRS has postponed the deadline for adoption of a written plan until 12/31/2009, we believe that it is reasonable to give all parties until 12/31/2009 to reach acceptable agreements/arrangements. Click Here to view the list of Vendors who have already signed Good Faith Resolutions and Employers who have signed Good Faith Resolution Preference Forms.

CCC Client Employers must make the ultimate decisions about continuation of relationships with Vendors that do not meet the minimal standard of adopting the CCC Good Faith Compliance Resolution.

If you'd like to adopt this resolution, please download the one-page agreement, sign, and fax back to CCC at 503-968-7802.

Important Observations

This Finley School District section of the Carruth Compliance Consulting (CCC) website is being updated on a regular basis. A 'Page Last Modified" date and time stamp appears in the lower left corner of this and every page. While every attempt has been made to present complete and accurate information, please let us know if you notice errors and/or if you have suggestions that would make the information provided more useful to you. We at CCC hope that the information provided in this website will be helpful to you in better understanding the excellent supplemental retirement savings programs sponsored by Finley School District.

Legacy Website

You are viewing the current CCC webserver, which was first launched on 8/8/2008 using a dynamic, secure database-supported system. The previous CCC website is now designated as the CCC Legacy Website, which is no longer being maintained, but may be accessed at www.ncompliancelegacy.com.

CCC's Relationship with Finley School District

CCC provides compliance monitoring and plan administration services to Finley School District on a contractual basis, which began on 6/15/2009. CCC serves as a clearing house for administration of the 403(b) Tax-Sheltered Annuity Plan (TSA) for Finley School District, providing employees with the information they need to take advantage of this tax deferred retirement savings plan.

Additional Tax-Deferred Savings Information

CCC provides educational information about advantages of tax deferred savings in general, along with links to websites that provide useful commentary and tools. Employer policies, practices, and procedures are available online, along with enrollment steps, Salary Reduction Agreement forms, and instructions for changing investment companies or contribution amounts. CCC monitors contributions for IRS compliance.

Frequently Asked Questions

If you still have questions about your employer's 403(b) plan after browsing other pages of this website, check out the answers to these Frequently Asked Questions (FAQ). Learn More

Ask Your Own Questions

Click on this link to pose your own questions to Carruth Compliance Consulting, by electronic mail (email), telephone, fax, or any standard mail carrier. Learn More

Useful Links

Click on this link to review additional websites that CCC has found to be useful for various purposes. We welcome recommendations for additional websites to include on this Useful Links page. Learn More

Information Of General Interest

CCC provides general information that may be of interest, including CCC information & services, employee/participant resources, employer resources, vendor resources, current CCC clients, useful links, and ways to contact CCC.

Breaking News - Changes Ahead

Learn about significant changes either already set in concrete or under consideration.

 

Plan Document for Finley School District

If you'd like to review the most recent Finley School District iteration/draft of its 403(b) Plan Document that will govern 403(b) policies for Employees of Finley School District beginning 1/1/2009, you may do so here. Once the Plan Document is officially adopted by the Employer's Board, the "Draft - Not Effective" banner will be removed.

Payroll Slot Rules and Requirements to Receive Exchanges and Transfers

Rules concerning payroll slots and becoming an eligible vendor to receive exchanges and transfers under the plan are contained in the plan document for Finley School District. We encourage vendors to contact CCC for assistance with these processes. The relevant plan document sections for Finley School District are linked below:

  • Requirements to Gain and Maintain Active or Inactive Payroll Slots;
  • Requirements to become eligible to receive Exchanges Within, Plan-to-Plan Transfers Into, and Direct Rollovers Into 403(b) Plans of CCC Full-Service Client Employers;

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 Finley School District. 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

Finley School District has decided to allow its employees to make Roth 403(b) contributions to any Finley School District vendor that will accept such contributions. General information about Roth 403(b) contributions, which became available for the first time January 1, 2006, is available. Check the link periodically, since new information will be provided as it becomes available. For the most recent information about which vendors accept Roth 403(b) contributions, please see Vendors below. Again, check these lists periodically, since additional vendors are likely to begin accepting Roth 403(b) contributions.

457(b) Deferred Compensation Plan Available

Finley School District sponsors a 457(b) Deferred Compensation Plan (DCP) in addition to its 403(b) Tax Sheltered Annuity (TSA) Plan. Finley School District employees are eligible to contribute to both plans, making it possible to essentially save double the amounts they could contribute to either plan separately, all the while deferring Federal and State income tax on the contributions.

However, Finley School District has elected not to have CCC provide administrative services with respect to the Employer's 457(b) Plan. Therefore, information about the Finley School District 457(b) Plan must be obtained from the Employer Office.

List of Vendors

For a list of 403(b) Contribution Vendors for Finley School District, along with additional Vendor information, please visit the List of Vendors page.

Transaction Types - Definitions

Click here for information about the various types of transactions associated with 403(b)accounts and information concerning the submission of transactions to CCC.