Tax Sheltered Annuity (403B) Program

Printable version (PDF)

How do I start a plan?

Please ensure that an account has been established with an approved company that the ASD is currently working with. The District requires an ASD Salary Reduction Agreement (form #726) to be submitted to Payroll Services. Deduction amounts are remitted 7 to 10 days after your scheduled payday. Any changes in the monthly amount or limit require a new amended Salary Reduction Agreement. Standard payroll deadlines apply. 

Additional information regarding the 403B Program (Publication #571) is available at the offices of Internal Revenue Service or through the official Web site at www.irs.gov.

District employees may participate in a maximum of 3 different companies as long as the total combined amounts withheld for the calendar year do not exceed the plan limit for the current year.

How do I stop a plan?

Please complete the Salary Reduction Agreement (form #726) to stop a plan. Please remember to notify your agent or your company of this action.

It is important to not surrender or cancel an existing plan without notifying Payroll Services at least 20 days prior to the last payroll deduction. Otherwise, your company will not accept your last payroll deduction. Refunds from a company due to surrendered contracts take at least 30 days to process.

What is the amount I may contribute annually?

The following is a schedule of limits for the 403B plan:

If you have been employed with the District for 15 years or more, you may qualify for the “catch-up provision” for additional contributions to your plan. The current amount is an additional $3,000 for 5 years, not to exceed a total amount of $15,000 over the general limit during your “catch-up” years. If you would like more detailed information regarding the “catch-up” provision, please refer to IRS Publication 571 or your company agent for details.

Other information

It is not ASD policy to recommend a specific plan. The following is the current ASD list of providers. Contact Payroll at 907-742-4103 for questions or updates to this list:

	Aetna (ING)	American Century
	Equitable	Fidelity
	Franklin Templeton	Horace Mann
	IDS Financial Services	Lincoln National
	Lord Abbett Funds	Thrivent Financial for Lutherans
	Metropolitan Life Resources	Mutual of America
	Nationwide Life	NEA ValueBuilder/Security Benefit
	New York Life	Northern Life (ING)
	PFS Investments	Pioneer Fund
	Symetra (formerly Safeco Life)	Smith Barney
	Valic	Vanguard
	Waddell & Reed