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Participation Eligibility & Contribution Limits (Clatsop Behavioral Healthcare)




2020 403(b) Plan Announcement


Retirement Saving Opportunity - The 403(b) Plan

Clatsop Behavioral Healthcare (“Employer”) offers an excellent program through which you may elect to contribute a portion of income into retirement savings accounts. Your Employer’s retirement savings program is offered under Section 403(b) of the Internal Revenue Code and is called the Tax-Sheltered Annuity Plan.

Eligibility to Participate

All part-time and full-time employees are eligible to contribute to the 403(b) Plan.

You may begin making elective deferrals in the 403(b) Plan at any time by first establishing an investment account with an approved vendor, and then completing a salary reduction agreement, signing it, and submitting it to your payroll office.

Contribution Limits for 2020

The basic elective deferral limit for 2020 is the lesser of $19,500.00 or 100% of your compensation.

If your 50th birth date occurs on or before December 31, 2020, you are eligible to defer an additional $6,500.00, provided your compensation is large enough to allow the extra deferral.

Vendor Options Under the 403(b) Plan

The 403(b) Plan offers two vendor options:

VALIC:
Terry Helland, 503-276-1400, terry.helland@valic.com

American Funds:
Terry Helland, 503-276-1400, terry.helland@valic.com
Richard G. Thomas, 503-717-5512

Participant Responsibilities

When contributing to your employer-sponsored retirement savings plan, it is important that you monitor your account activity regularly for accuracy (e.g., deposits of your contributions). 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 Available from Third Party Administrator

Your Employer has adopted the services of Carruth Compliance Consulting, Inc. (CCC), an independent third party administrator, to provide compliance and administration services. For questions regarding your Employer’s 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

403(b) Contribution Limits for 2020

  • Elective Deferral Limit: $19,500.00*
  • Age 50 Catch-up: An additional $6,500.00, for a total of $26,000.00* (Applies to Employees Age 50 or over by 12/31/2020)

*Note: Contributions to the plan above cannot exceed employees’ total compensation.

**Please contact CCC to verify eligibility and limits available under Special Catch-up.

Participant Responsibilities

  • Participants are responsible for monitoring account activity regularly for accuracy (e.g., deposits of your contributions), updating contact and beneficiary information.
  • Contribution limits are specific to you, the taxpayer. If you participate in another organization’s retirement plan in addition to participating in the Clatsop Behavioral Healthcare Plan, please note:
    • 403(b) Elective Deferral Limits described above apply to your total deferrals to all 403(b), 401(k), and SARSEP plans in which you participate.
    • If you control an organization sponsoring a qualified defined contribution plan, all contributions made to that plan on your behalf must be aggregated with any 403(b) contributions at Clatsop Behavioral Healthcare for the IRC 415(c) limit (this applies to the aggregate of elective deferrals and employer contributions, the limit is $57,000.00 in 2020, those Age 50 may defer an additional $6,500.00).
    • Note: 457(b) contributions do not need to be aggregated with 403(b) contributions for limit consideration.
  • If a problem exists or if you have questions, you should contact CCC or your employer as soon as possible.

Comprehensive information is available online via CCC’s website, www.ncompliance.com.
Please contact CCC with any questions at 503-968-8961 or Toll-Free at 877-222-3090 or via the “Contact Us” page.

Click here for rendered version of 2020 Eligibility & Limits Announcement for Clatsop Behavioral Healthcare


2019 403(b) TSA Plan Announcement


Retirement Saving Opportunity - The 403(b) TSA Plan

Clatsop Behavioral Healthcare (“Employer”) offers an excellent program through which you may contribute a portion of your current income into retirement savings accounts. Your Employer’s retirement savings program is offered under Section 403(b) of the Internal Revenue Code and is called the Tax-Sheltered Annuity Plan (“TSA Plan”).

Eligibility to Participate

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

You may begin making elective deferrals in the TSA Plan at any time by first establishing an investment account with an approved vendor, and then completing a salary reduction agreement, signing it, and submitting it to your payroll office.

Contribution Limits for 2019

The basic elective deferral limit for 2019 is the lesser of $19,000.00 or 100% of your compensation.

If your 50th birth date occurs on or before December 31, 2019, you are eligible to defer an additional $6,000.00, provided your compensation is large enough to allow the extra deferral.

Vendor Options Under the TSA Plan

The TSA Plan offers two vendor options:

VALIC:
Terry Helland, 503-276-1400, terry.helland@valic.com

American Funds:
Terry Helland, 503-276-1400, terry.helland@valic.com
Richard G. Thomas, 503-717-5512

Participant Responsibilities

When contributing to your employer-sponsored retirement savings plan, it is important that you monitor your account activity regularly for accuracy (e.g., deposits of your contributions). 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 Available from Third Party Administrator

Your Employer has adopted the services of Carruth Compliance Consulting, Inc. (CCC), an independent third party administrator, to provide compliance and administration services. 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


 

 

Page Last Modified: 4/23/2020 12:35:49 PM