403(b) Tax Sheltered Annuity Plan (TSA)
403(b) Plans generally serve as voluntary 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.
Please visit the "Why Participate?" page for additional information on the benefits of utilizing the 403(b) plan.
Roth Contributions Available
Yamhill Carlton allows Roth 403(b) Contributions. Roth contributions are deferred from paychecks to investment accounts on an after-tax basis, as opposed to Traditional 403(b) which are deferred on a pre-tax basis.
CCC Roth Tutorials Available:
Useful Roth Contribution LinksYou may find it helpful to review some of the websites listed below.
Please note: Roth 403(b) accounts are available from select vendors, please review the information listed on the Yamhill Carlton 403(b) Vendors page for vendors that show "403(b) Roth Account Available" after the vendor name where applicable, then follow the Enrollment Steps to begin participation.
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 Yamhill Carlton School District 1. 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
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CCC's Relationship with Yamhill Carlton
CCC serves as the third party administrator (TPA) of the 403(b) Tax-Sheltered Annuity Plan (TSA) and primary point of contact for
the Yamhill Carlton 403(b) Plan since 9/26/2013. CCC helps with plan administration but is not involved with administration of investment accounts. For questions regarding your 403(b) and 457(b) accounts, including account balances and investment allocations, please contact your investment provider.
How Do I Begin, Change, or Cancel Contributions?
Please review the Eligibility and Limits Announcement for a full description of the employees eligible to participate and the contribution limits that apply. The 403(b) Enrollment Procedures for step-by-step instructions on how to start, change, and cancel contributions to a 403(b) Vendor under the plan. Additional information is available on our Choosing an Investment Product page.
403(b) Transaction Information
Visit the 403(b) Transaction Page.
457(b) Deferred Compensation Plan
Please visit the 457(b) Information page to learn more.
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