Steps to Enroll
1. Determine the Amount per Paycheck
The Fossil 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).
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 Fossil 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 Fossil. You must establish an account under the Fossil 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. Complete a Salary Reduction Agreement and Submit it to Fossil
Complete your
403(b) Salary Reduction Agreement
(SRA) form, print it, sign it, and submit it to
Payroll Office at
Fossil, along with a copy of documentation that you have established an account with the vendor.
Fossil School District 21J
Payroll Office
404 Main St.
PO Box 206
Fossil, OR 97830-0206
SRAs are subject to the established Payroll Cut Off Date. By the 10th of the month.
Continuation Until Cancellation: The most recent 403(b) SRA document on file at Fossil School District 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.
Fossil May Reduce Or Suspend Contributions: Fossil School District is required to avoid contributions that might exceed IRS limits. Consequently, the 403(b) SRA stipulates that Fossil may reduce and/or suspend contributions to avoid excess deferrals over your contribution limit.
Downloadable pdf of this page available here.