Steps to Enroll
1. Determine the Amount per Paycheck
The Gresham-Barlow 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).
Gresham-Barlow allows Roth 403(b) contributions to any Gresham-Barlow 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 Gresham-Barlow 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 Gresham-Barlow. You must establish an account under the Gresham-Barlow 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 Gresham-Barlow
Complete your
403(b) Salary Reduction Agreement
(SRA) form, print it, sign it, and submit it to
Payroll Office at
Gresham-Barlow, along with a copy of documentation that you have established an account with the vendor.
Gresham-Barlow School District 10Jt
Payroll Office
1331 NW Eastman Parkway
Gresham, OR 97030-3825
SRAs are subject to the established Payroll Cut Off Date. Salary reduction agreements must be submitted to the Business Office Payroll Department by the District's payroll cut-off date for the given month.
Continuation Until Cancellation: The most recent 403(b) SRA document on file at Gresham-Barlow 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.
Gresham-Barlow May Reduce Or Suspend Contributions: Gresham-Barlow School District is required to avoid contributions that might exceed IRS limits. Consequently, the 403(b) SRA stipulates that Gresham-Barlow may reduce and/or suspend contributions to avoid excess deferrals over your contribution limit.
Downloadable pdf of this page available here.