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The District provides employees the opportunity to defer wage earnings to a plan qualified under the Internal Revenue Code §403(b). By deferring wages, employees may realize an income tax advantage/reduction. While the District does make this personal financial management tool available to employees, the District does not offer personal financial planning or wage deferral advice to employees. Please consult with your personal financial planner if you have questions about whether a wage deferral tool such as a 403(b) is right for you.
Employee contributions to a 403(b) through payroll deferral are administered by Business Services and prescribed by Board Policy 6520 Payroll Deductions. TSA vendors must be pre-certified by the District to receive contributions through the District's 403(b) Plan. Certification will require the vendor to comply with the requirements of IRC §403(b), federal regulations, the terms of the District’s 403(b) Plan document, and execute an agreement with the District. In the absence of such a certification, a vendor shall not be permitted to serve as a recipient of contributions.
Participation in a wage deferring 403(b) is Universally Available to employees. To begin/modify/terminate 403(b) participation, employees must complete and submit to the District Business Office a Salary Deferral Agreement. To assist employees, the District makes available (at left) additional information on the Summary Plan Description and Approved Vendor List.
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