403(b) Investment Plan Programs
As of January 1, 2009 the IRS is changing the way school districts deal with 403(b) contributions. The IRS requires every school district to have its own written 403(b) plan. It also requires that the district be responsible for meeting all recordkeeping rules and regulations. The IRS is curtailing 403(b) plans to be similar to 401(k) plans in the corporate sector which generally limits the number of vendors that participate with the employer. Below please find links and information about the updated plan that takes effect January 1, 2009.
|Communications to Staff|
|Universal Eligibility Notice|
|Letter 403(b) Annuity Plan dated October 29, 2008|
|Letter 403(b) Annuity Plan dated December 8, 2008|
|Annuity Consortium Update - August 2011|
|Summary Plan Description for 403(b) Retirement Plan|
|AMA ESD 403(b) Retirement Plan Document|
|Payroll Reduction Authorization Form|
|AMA ESD 403(b) Company Contact Information|
|AMA ESD 3rd Party Administration|
|TSA Consulting Group|
TSA Consulting Group has been selected as the Third-Party Administrator for the AMA ESD to meet the recordkeeping guidelines and regulations. Employees may visit the website to review available vendors, download forms, or receive information on getting loans, withdrawing for hardship cases, etc.
The AMA ESD joined an annuity consortium of over 250 schools to negotiate the lowest possible prices and the best service for its employees. The consortium selected a single source provider and five core companies that offer excellent service and in most cases reduced service fees. These companies are listed below:
|Midwest Capital Advisors (single source provider)|
|Plan Member Services|
|The Legend Group/Williams & Company Financial Services|
|Waddell & Reed/Nationwide|
In addition to the above consortium-wide chosen vendors, the AMA ESD selected additional vendors for its employees. These vendors are companies that have a history with the AMA ESD and its staff and have agreed to provide the appropriate recordkeeping and follow the AMA ESD Plan Document effective January 1, 2009.
Clear Strategy Financial Advisors