Employee Benefits & Insurance Management
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Voluntary Retirement Plans for USD 259 Employees
USD 259 employees have the opportunity to set up contributions to their personal investment programs through payroll deductions. There are two options available: the USD 259 endorsed 457 Deferred Compensation program with Empower, and 403(b) tax-sheltered annuity plans. Employees interested in setting up personal accounts must work with an investment counselor to determine an investment program and begin a payroll deduction.Remember, any tax questions should be discussed with your own tax advisor.
457 (B) Deferred Compensation Plan457(b) deferred compensation plans are employer-sponsored retirement savings plans, offered by municipalities and governmental entities, which allow employees to defer a portion of their current compensation on a tax-advantaged basis for retirement.
With a 457(b) plan, employees put a portion of their earnings into an employer-sponsored plan on a tax-advantaged basis. Employees may choose between a traditional pre-tax contribution and a Roth contribution.
Roth contributions – Contributions are made on an after-tax basis. Earnings accumulate on a tax deferred basis, and distributions are tax free if made five years after the initial contribution to the plan and the employee is over 59 ½.
Traditional pre-tax contributions – Contributions are made on a pre-tax basis, reducing the employee’s taxable income. Earnings accumulate on a tax deferred basis. All distributions are taxed as ordinary income.
Please contact Debra Anton with Retirement Plan Advisors for assistance with setting up a 457(b) at 316.210.5049 or danton@retirementplanadvisors.com.
Click below for:- 457 (B) Plan Enrollment Form
- 457 (B) Plan Highlights
- 457 (B) Plan Brochure
- Retirement Plan Advisors Service Model
403 (B) Tax Sheltered Annuity Plans
The Omni Group is our 403(b) plan administrator. The list of providers can be found on the Omni website www.omni403b.com.
Follow these steps to view our approved providers:
Employers > Your Plan Page > KS > Unified School Dist #259 Sedgwick County > GO
You can also contact Omni at 1-877-544-6664 to work with an investment advisor from one of our approved participating service providers.