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CCC PPS 403(b) Enrollment Information

1. Determine the Amount per Paycheck

The PPS 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 Vendor (investment company) in the plan. You make this election by following the steps below, which includes the submission of a Salary Reduction Agreement (SRA) indicating your choice of contribution amount and vendor.

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).

PPS allows employees to make Roth 403(b) contributions to any PPS vendor that will accept such contributions. Roth contributions are deferred from paychecks to investment accounts on an after-tax basis, as opposed to Traditional 403(b) which are deferred on a pre-tax basis.

How much you choose defer from your pay to a 403(b) account is a personal choice based both your goals and financial constraints. There are annual (calendar year) 403(b) maximum contribution limits that apply. For questions regarding the maximum contribution limit and how it applies to your, please contact us.

2. Select A Vendor

You may make monthly contributions to one or more investment companies on this List of 403(b) Vendors with Active Payroll Slots for Portland Public Schools. Your research into which companies best meet your need may be aided by visits to company and agent links available at the vendor site.

If you wish to make Roth contributions, check the List of 403(b) Vendors with Active Payroll Slots for Vendors that have "Roth 403(b) Accounts Available" after their name. You can not send Roth (after-tax) contributions to an existing Traditional (pre-tax) 403(b) account, you must open a separate designated Roth 403(b) account with an Vendor to accept Roth contributions.

3. Complete Vendor Application

Open an account with a Vendor holding an Active Payroll Slots prior to indicating you wish to begin deferring to the PPS 403(b) Plan* via Benefits Portal in Step 4 below.

As you complete your account application, it is helpful to have the Plan ID# listed next to your vendor's name available when you open your account, this will help to appropriately associate your new account with the PPS 403(b) Plan*. Once your account is open, please note your assigned account or contract number in case you need to reference in the future.

*Please note: You may not defer to an account listed under a prior/different employer's plan, it will be necessary to establish an account under the PPS 403(b) Plan to begin deferrals.

4. Complete an SRA via the PPS Benefits Portal

Salary Reduction Agreements (SRAs) for PPS employees are now paperless and submitted online via PPS's Employee Self Service Benefits Portal.

Log into the Benefits Portal using your PPS username and password to start a new 403(b) deferral*, to change an existing 403(b) deferral, or to cancel your existing 403(b) deferral. Note: If you cannot remember your login information, please contact the PPS IT department at (503) 916-3375 or email itservicedesk@pps.net for assistance.

Once you have logged into the Benefits Portal, you may access the area where you may indicate your desired 403(b) contributions or cancellations from the "Main Menu" tab by selecting "Self Service">"Benefits">"Life Events", then clicking "I want to change my 403(b) Contribution". (PPS also provides an illustrated guide online to navigate this area of the Benefits Portal.)

Continuation Until Cancellation

The most recent 403(b) Salary Reduction Agreement (SRA) document on file at Portland Public Schools 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.

PPS May Reduce Or Suspend Contributions

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