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CCC Clackamas ESD 403(b) Enrollment Information

1. Determine the Amount per Paycheck

The Clackamas ESD 403(b) plan is a voluntary retirement plan option, you may contribute to this plan by deferring from your paychecks and contributing those funds (in an amount you specify) to an account held under Vendor (investment company) in the plan. You make this election by following the steps below, which includes the submission of a Salary Reduction Agreement (SRA) indicating your choice of contribution amount and vendor.

Traditional 403(b) accounts are tax deferred, meaning funds are deferred from your check to your investment account on a pre-tax basis. When you contribute to a Traditional 403(b) account, your net pay is not reduced by the full amount of your contribution (please see our net pay impact illustrations page for detailed examples).

Clackamas ESD allows employees to make Roth 403(b) contributions to any Clackamas ESD vendor that will accept such 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.

How much you choose defer from your pay to a 403(b) account is a personal choice based both your goals and financial constraints. There are annual (calendar year) 403(b) maximum contribution limits that apply. For questions regarding the maximum contribution limit and how it applies to your, please contact us.

2. Select A Vendor

You may make monthly contributions to one or more investment companies on this List of 403(b) Vendors with Active Payroll Slots for Clackamas ESD. Your research into which companies best meet your need may be aided by visits to company and agent links available at the vendor site.

If you wish to make Roth contributions, check the List of 403(b) Vendors with Active Payroll Slots for Vendors that have "Roth 403(b) Accounts Available" after their name. You can not send Roth (after-tax) contributions to an existing Traditional (pre-tax) 403(b) account, you must open a separate designated Roth 403(b) account with an Vendor to accept Roth contributions.

3. Complete Vendor Application

Open an account with a Vendor holding an Active Payroll Slots prior to indicating you wish to begin deferring to the Clackamas ESD 403(b) Plan by submitting an SRA (Step 4 below).

As you complete your account application, it is helpful to have the Plan ID# listed next to your vendor's name available when you open your account, this will help to appropriately associate your new account with the Clackamas ESD 403(b) Plan*.

*Please note: You may not defer to an account listed under a prior/different employer's plan, it will be necessary to establish an account under the Clackamas ESD 403(b) Plan to begin deferrals.

Once you have completed your account application and the account is open (with an account or contract number assigned), please submit documentation your account has been established to Fiscal Services at Clackamas ESD along with the SRA (see Step 4 below).

4. Sign Salary Reduction Agreement

Complete your 403(b) Salary Reduction Agreement online, print it, sign it, and submit it to Fiscal Services at Clackamas ESD, along with a copy of documentation that you have established an account with the vendor. Clackamas ESD requires its own 403(b) Salary Reduction Agreement form for all new voluntary deductions and for all changes.

Clackamas Education Service District
Fiscal Services
13455 SE 97th Ave
Clackamas, OR 97015

Employees need to deliver the Clackamas ESD-approved Salary Reduction Agreement by the deadline established by Clackamas ESD for a month in order for the amount to be deducted from that month’s payroll. The payroll cutoff for Clackamas ESD is the 10th of the month. In the event the 10th of the month falls on a weekend or holiday, the payroll cut-off date will be the last business day preceding the weekend or holiday.

Continuation Until Cancellation

The most recent 403(b) Salary Reduction Agreement (SRA) document on file at Clackamas ESD remains in effect until you cancel the agreement, change the contribution amount, or change the vendor. One or more of these three actions requires submission of a new 403(b) Salary Reduction Agreement.

Clackamas ESD May Reduce Or Suspend Contributions

Clackamas ESD is required to avoid contributions that might exceed IRS limits. Consequently, the 403(b) SRA stipulates that Clackamas ESD may reduce and/or suspend contributions as necessary to avoid excess deferrals. CCC monitors year-to-date contributions each month and notifies Clackamas ESD when such reductions and suspensions are required. Prior to an actual reduction and/or suspension, you are given the opportunity to review the data on which the decision to reduce/suspend was made to verify its accuracy.