Page 21 - C:\Users\jsalazar145\Documents\Flip PDF Professional\new-employees-benefits-guide-2019 030619\

E ligibilitY
as ~as
Ratti 403/tJI
upon enroi1
ano rOloVers..
contrtl>Utions
AD empioye5,
Traairionm 403/ol
C ontributions maae to
are eJigiD le to pa.rtieip.ate
Emplayee C.Ontributions
403(0) p13n. Partie:ipants are
ment. p.artieipants
fu1
event of an excess contribution.
Aoaiti0na1 prcwision.s anowea if se1
1
eaeo ~
to tne p.artie:ipanrs 403(D)
E
p1
a
you make to your account. A H qua1f'iea CliStriD
PICQSll
Age-B
Tbe 40l{b) Plan ii
account
asea
tile employer:
nrollment
,_. 11'111
:ryvesteC1 in tneir contriD
Of up to S6,000.
are
Of tne prece<ii,.
ca1
IOl:lll
tney remain in your account for flveyears from tne
The servic~Basea
contrtl>Utions ana any eamil'@S are oeferrea tntil tne p.artie:ipant
¥ll'IU:lll
easevisit www .tSac.g.com.
policies and rules that
from
The Basic Contribution limit for 2018 is $18,500.
21
utions ana e.a~s
403(b} Plan
Aaaitional Amount
in tne 403(0) plan immeaiatety upon emp1cryment
ineome
¥l!Ollnt Of :11
2018
their maXimum annual contri bution airount on a pre-tax oasiS, thus reaucing
if you are 59)1!; (suD;ect to plan aocument ptOYiSions) or at separation from Se.Nice.
a valuable re~ement sav~
paiCI
catch up Amount
infOrmation at>Out enrollment in tne p&ar\. investment proauct proviCIM availatlk!. CliStriD
maae withClraws their funas.
at al ti.mes.
the
PLAN SUMMARY INFORMATION
govern the 403(b) Plan.
tnrou.gn
tne employer. TiliS fOrm atznorhes tne employer t0 witMOIO
partic:ipant's
Alamo C.Ommunity C.Ollege Distlict, TX
option available throygh
pay ana sena tllose ftJntts t0 tne ll'Nestment Proviaet on tneir oenaJF. A
1
tne employer's
p;rtlC\:Qtn'5 ~
enoaryeJr. tne pal'tieipant nas compJetea 15 or more ftJH
catelMJpcontriDutions in excess Of tne aggregate oF S15,000~ t=.or a Cletaile<I e:qi1
Clesignate a portion o# tneir sal3iy that they wish to conttioute to tneir traC1iti0na1
COntrltKO)fl ("""° alCtl:llliOn. for oorwol1'.~ ;i MAC c.:iklJl:inor 1$ ~ltlt>IO on Ir. n111mn ~t -
"5a1iy Reo.ietionAgreement"' (SAA) torm ana any aisclosl.l'e torms must oe comp1
taxat11 e p.ayro11
Alamo Community College District, TX. This notice provides a brief explanation oi the provisions,
mJ:R l'IOl PCM<! 11'111
income.
enrOll anCl/oc make cr.anges t0 your current contrioutions al"l')'time tnrougriOUt tne year.
utions from Roen 403{b) accounts are tax-free. ArfV' earnings on your oeposits
s.a1
me special cataHJp prOVision allows pal'tieiparns t0 make aoaitionaJ contriDutions Of up t0
imposes suDstantiaJ penalties for viOlating conttiDutioo limits. TSAC G monitors 403(b) plan contri-bUtiOns ana notifies tne emp1
~lmum
EmplOyees may make VOiuntary elective oeferra1
..u:;iq.oom.
utions. enrollmellt. excnangesor transfers, 4.0l(D
a Roth 403(0) account are after-tax oeauetions from your p.aycneo:. income taxes are n()( reaucea oy conttiO
st0p or mOGily contrioutions t0 a 403(0) accol.l'lt. Unless Otner\Yise notifieCI Of your emp>oyer, you may
I IOartS.
witn tne exceptiOn of private contractors. appointea/eJeeteG trustees ana/or scnooi DOarCI memDerS ana stuaent workers.
are not taxea
Gate that your first Roth contriDutiOnwa.s maae. CisttiDutions may De taken
Participanis wno are age SO or Oklet any time ®ring tne year qualify to make an aoaitional centriDution
utiOns
SAA must oe cornpieteo t0 start.
The anterna1 Revenue service reguiatiOns limit the amount pa.rticip.ants may conttioute aMUalJY to tax-aovantagea retirement plans ana
oye1 in tne
Oest suitea tor tneir 403(0) account. Upon estaDliSnment c.r tne account witn tile setecteo proviaer. a
Employees wno wish t0 enroll in tne 40l(D) p&an must &st setect tne ptCNiCler ano investment proouet
Sl,000 if. as
anation0f thiS prOVision.
tne cooent emp>oyer, not averagea over ss.ooo per yeJr in annual contfiDutions. ana nas n0t Utiliieo
years or emplC¥ment with
eteo ana womittea to
s to tne
400(D) contriOUtions from tne em~ee·s
system. Taxes on
Plan aaministration services fOr tne 4.01(01 plan are provioeCI tl'f ™consulting Group, ric. (TSACG). ViSit tne TSACG weDSite (rsacg.com1 f«
403(0) aCCOl.l'lt up to
AlkM:i~
aiy oeferra1