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CCC Morrow County 403(b) Enrollment Information

1. Determine the Amount per Paycheck

The Morrow County 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).

Morrow County allows employees to make Roth 403(b) contributions to any Morrow County 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 Morrow County School District. 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. It may be necessary to open a separate designated Roth 403(b) account, even if you have an existing Traditional Pre-tax 403(b) account with a vendor. We recommend contacting your vendor to make sure your account is properly set-up for Roth 403(b) contributions and you have designated investment allocations for your 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 Morrow County 403(b) Plan by submitting an SRA (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 Morrow County 403(b) Plan*.

*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 Morrow County 403(b) Plan to begin deferrals.

Once you have completed your account application and the account is open (with an account or contract number assigned), please submit documentation your account has been established to Attn: Payroll at Morrow County along with the SRA (see Step 4 below).

4. Sign Salary Reduction Agreement

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

Morrow County School District No. 1
Attn: Payroll
P.O. Box 100
Heppner, OR 97836-

Employees need to deliver the Morrow County-approved Salary Reduction Agreement by the deadline established by Morrow County for a month in order for the amount to be deducted from that month’s payroll. Salary Reduction Agreements must be submitted to the District Office by the District's Payroll cutoff date for the given month.

Continuation Until Cancellation

The most recent 403(b) Salary Reduction Agreement (SRA) document on file at Morrow County School District 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.

Morrow County May Reduce Or Suspend Contributions

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