Welcome to the 403b Page
This page is intended to give EUPISD Staff the latest information on what is happening with our 403b Annuities program.
If you do not have a pre-tax annuity account but you are thinking about starting one, this is where you will find information on your choices.
Under the new regulation the district would be mandated to manage your 403b account more closely and make sure that every vendor we were using were in full compliance with the new rules. If we did not do this correctly, all of our individual pre-tax payroll deductions would become taxable for us as individuals.
It is our opinion that once payroll is paid to a staff member that the money belongs to that staff member and they may invest or spend the money as they see fit. The money is no longer the districts money. The IRS would disagree.
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Why did we decide to go this direction? To keep the costs to our district and the fees to our employees as low as possible. Under this new plan we will meet all the new requirements with no added costs to the district. For our employees, we will have investment providers that have greatly reduced or eliminated the sales and load fees on the investments that they offer so you will have more options and lower fees.
The EUPISD 403(b) Plan now offers core investment providers:
The Legend Group
Plan Member Services
As well as the following investment provider:
The five core vendors will be offering new special options with reduced or eliminated fees and charges. Please check with them for details.
One additional company you will see is TSA Consulting Group. They are the company that we are using as a Third-Party Administrator (TPA) to keep all the records for the IRS. There is a quick link below to more information about them if you are interested. They do not manage any investments; they just keep the IRS happy by processing our paperwork.