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. Additionally, CCC's site offers a page of Education Tutorials and more to familiarize employees with a variety of 403(b) topics.
Please visit the "Why Participate?" page for additional information on the benefits of utilizing the 403(b) plan.
CCC made a presentation covering the basics on the 403(b) plan for NCSD employees on 10/20/2021, you can access that presentation here.
Educational Tutorials
CCC has created short form education videos on a variety of 403(b) educational topics and curated a wealth of helpful links to additional resources on our Education Tutorials page.
Roth Contributions Available
North Clackamas 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 North Clackamas 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 North Clackamas School District No. 12. 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 North Clackamas
CCC serves as the third party administrator (TPA) of the 403(b) Tax-Sheltered Annuity Plan (TSA) and primary point of contact for
the North Clackamas 403(b) Plan since 10/7/2015. 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.
Obtaining Transaction Authorization Vouchers
Vouchers are available to authorize the most common transaction types. Request a Voucher here. Additional transaction information and submission instructions here.
Receiving Secure Emails: CCC sends emails containing sensitive information (such as Vouchers) via a secure email service called Sendinc from the email address "ccc-transactions@ncompliance.com". Please check your spam folder if you do not see the anticipated message in your inbox. The secure email service will require you create an account the first time you use it, more info/support is available on the Sendinc Website.
A note concerning processing times: CCC's processing time may be affected by holiday closures, overall transaction volume, as well as the due diligence, and follow-ups required on the specific transaction.
457(b) Deferred Compensation Plan
Please visit the 457(b) Information page to learn more.
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