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CCC High Desert ESD 403(b) Enrollment Information

1. Determine the Amount per Paycheck

This link provides information on maximum allowable contribution (MAC) amounts. However, you may be either unwilling or unable to contribute the maximum allowable amount. You must decide how much you would like to contribute to the plan each month based on your financial goals and your budget constraints. Keep in mind that the tax deferred nature of these contributions means that your net pay is not reduced by the full amount of your contribution. Final determination of the impact of tax deferred contributions on net pay depends on your federal and state marginal tax rates. For additional information, see net pay impact illustrations. For personalized calculations, paycheck evaluation software is useful. Online calculators for various purposes are available on the useful links page. For a personal MAC calculation or if you have additional questions, contact us.

2. Select A Vendor

You may make monthly contributions to one or more investment companies on this List of Vendors for High Desert 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.

3. Complete Vendor Application

Your paperwork must be completed with your selected vendor and you must submit to Payroll Office at High Desert ESD documentation that an account has been established.

4. Sign Salary Reduction Agreement

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

High Desert ESD
Payroll Office
145 Salmon Ave.
Suite A
Redmond, OR 97756-8427

Employees need to turn in the High Desert ESD-approved Salary Reduction Agreement by the deadline established by High Desert ESD for a month in order for the amount to be deducted from that month’s payroll. Employees may initiate, change or discontinue a salary reduction agreement at any time before the first day of each month to take effect on that month's pay check.

 

Continuation Until Cancellation

The most recent 403(b) Salary Reduction Agreement (SRA) document on file at High Desert 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.

High Desert ESD May Reduce Or Suspend Contributions

High Desert ESD is required to avoid contributions that might exceed IRS limits. Consequently, the 403(b) SRA stipulates that High Desert ESD may reduce and/or suspend contributions as necessary to avoid excess deferrals. CCC monitors year-to-date contributions each month and notifies High Desert 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.