CCC is closing at 3:30p.m. on 5/31/2023 for a staff event.
Steps to Enroll
1. Determine the Amount per Paycheck
The Oregon City 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 net pay impact illustrations page for detailed examples).
Oregon City allows Roth 403(b) contributions to any Oregon City 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 Oregon City 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 Oregon City. You must establish an account under the Oregon City 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 Oregon City
Complete your
403(b) Salary Reduction Agreement
(SRA) form, print it, sign it, and submit it to
Payroll Office at
Oregon City, along with a copy of documentation that you have established an account with the vendor.
Oregon City Public Schools
Payroll Office
1417 12th Street
PO Box 2110
Oregon City, OR 97045-5010
SRAs are subject to the established Payroll Cut Off Date. By the payroll cut-off date, which is generally two weeks before the pay date for the month.
Continuation Until Cancellation: The most recent 403(b) SRA document on file at Oregon City 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.
Oregon City May Reduce Or Suspend Contributions: Oregon City Public Schools is required to avoid contributions that might exceed IRS limits. Consequently, the 403(b) SRA stipulates that Oregon City may reduce and/or suspend contributions to avoid excess deferrals over your contribution limit.