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Steps to Enroll

1. Determine the Amount per Paycheck

The ZZZ Public Schools 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 a 403(b) Vendor with an Active Payroll Slot in the plan.

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 Retirement Saving Options page for detailed examples).

ZZZ Public Schools allows Roth 403(b) contributions to any ZZZ Public Schools vendor that will accept such contributions. Roth contributions are deferred on an after-tax basis, as opposed to Traditional 403(b) which are deferred on a pre-tax basis.

Please note: There are annual (calendar year) contribution limits that apply.

2. Select A Vendor and Open an Account

You may select one or more vendors ZZZ Public Schools 403(b) Vendors with Active Payroll Slots to contribute to by contacting the Vendor or representatives to open an account under Plan ID* assigned to ZZZ Public Schools. You must establish an account under the ZZZ Public Schools 403(b) Plan specific Plan ID to begin deferrals. You may not defer to an account created under a prior/different employer's plan.Keep a copy of the documentation showing your newly assigned Account Number to evidence this step was completed.

3. Submit an Salary Reduction Agreement Online

Create an Online Account to complete and submit a Salary Reduction Agreement (SRA) or Log into Your Existing Account. Please have your Account Number handy to evidence an open account exists, the Online SRA will require that information.
For more information on CCC Online Accounts please visit our Online Account FAQs and Tutorials page.

Continuation Until Cancellation: The most recent 403(b) SRA document on file at ZZZ Public Schools remains in effect until you cancel the agreement, change the contribution amount, or change the vendor via the submission of a new 403(b) SRA.

ZZZ Public Schools May Reduce Or Suspend Contributions: ZZZ Public Schools is required to avoid contributions that might exceed IRS limits. Consequently, the 403(b) SRA stipulates that ZZZ Public Schools may reduce and/or suspend contributions to avoid excess deferrals over your contribution limit.

Downloadable pdf of this page available here.

 

 

Page Last Modified: 11/6/2024 4:33:41 PM