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 Massachusetts Mutual, 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.2015 Contribution Limits to Voluntary Retirement Plans
The IRS contribution limits to voluntary retirement plans can change from year to year. For 2015 the contributions limits are as follows:
403b, 401k, 457(b) and SAR-SEP Plans: $18,000
Age 50 & over catch up contribution: $ 6,000 for a maximum annual contribution of $24,000
Employees interested in increasing or making additional contributions to a voluntary plan should contact your investment counselor for assistance.
457 Deferred Compensation program
Employees of USD 259 may participate in the district sponsored 457 Deferred Compensation program with Massachusetts Mutual.
457 Representative: Debra Anton 316-210-5049 Fax: 316-684-8380
Retirement Plan Advisors Toll-Free Service Center: 1-877-284-6837
If you are interested in participating in the 457 plan please contact Debra Anton to discuss your investment strategy and set up a payroll deduction.
457 Deferred Compensation Plan - Plan Document
In addition to the regular contribution limits listed above, the 457 plan also has a "Pre-Retirement Catch-Up Limit" option which allows an employee to make additional contributions to make up for years not participating in the plan. Review the 457(b) Plan-Description document below for details, or call Debra for help.
What is a 457(b) plan all about?
Debra & Retirement Plan Advisors (RPA) have sent some documents to help employees understand the 457(b) Plan.
457(b) Plan - Description
403(b) Tax-Sheltered Annuity Plans
The Omni Group 1-877-544-6664
The Omni Group is our 403(b) plan administrator.
Employees wanting to set up a payroll deduction will work with an investment advisor from one of our approved Participating Service Providers who are ready to help you begin your contribution. The list of providers can be found on the Omni website www.omni403b.com , then follow these steps:
- Click FORMS Tab
- Look for the box labeled "Employer Plan Info". Enter: Emp State=KS; Emp Name=Unified School District #259.
- Click on "Show Details" Button. The list of Participating Service Providers will display. Click on the name to go to their website for contact information, plan information, etc.
- Work with your investment advisor to build your investment strategy and set up the payroll deduction.
Omni will handle all processes, including salary reduction requests, hardship requests, loan requests, distributions and contract exchanges. The forms for these requests are online at Omni's website, www.omni403b.com. All forms can be completed and submitted online. Omni will accept only the Salary reduction, Hardship or Loan requests via a paper form.
Omni sent this "Informational Guide" to submitting transaction requests to them. Hardship requests, QDRO's, death claims all require additional paperwork. Please review this document for helpful information in these situations.
Transaction Requests-helpful information
Omni forms:Note: Death claims, Disability claims, Distributions, Exchanges, QDRO, Rollover, and Service Requests must be submitted online. Paper forms will not be accepted.