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Steps to Enroll

1. Determine the Amount per Paycheck

The JCSD 509-J 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).

JCSD 509-J allows Roth 403(b) contributions to any JCSD 509-J 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 JCSD 509-J 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 JCSD 509-J. Keep a copy of the documentation showing your newly assigned Account Number to evidence this step was completed.

*Please note: You must establish an account under the JCSD 509-J 403(b) Plan specific Plan ID to begin deferrals. You may not defer to an account created under a prior/different employer's plan.

3. Complete a Salary Reduction Agreement and Submit it to JCSD 509-J

Complete your 403(b) Salary Reduction Agreement (SRA) form, print it, sign it, and submit it to Payroll Office at JCSD 509-J, along with a copy of documentation that you have established an account with the vendor.

Jefferson County School District 509-J
Payroll Office
445 SE Buff Street
Madras, OR 97741

SRAs are subject to the established Payroll Cut Off Date. Salary Reduction Agreements must be submitted to the payroll department by the 5th of every month.

Continuation Until Cancellation: The most recent 403(b) SRA document on file at Jefferson County School District 509-J 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.

JCSD 509-J May Reduce Or Suspend Contributions: Jefferson County School District 509-J is required to avoid contributions that might exceed IRS limits. Consequently, the 403(b) SRA stipulates that JCSD 509-J may reduce and/or suspend contributions to avoid excess deferrals over your contribution limit.

 

 

Page Last Modified: 4/26/2022 12:59:39 PM