For those districts that use their own SRA or one from a third-party administrator, we recommend having the document available on your district’s Web site. If an employee contacts us to enroll in a 403(b), we explain that they will need to complete an SRA to confirm the amount of the payroll deduction. If we know the form is available on your Web site then we will direct the employee there to get the document. If not, we encourage them to contact the payroll office to obtain the form.
Having your SRA available on your Web site can speed along the process and reduce the number of times an employee will have to contact payroll. Our goal is to have the SRA completed correctly before they hand it in, and if it is available online, we can help them with it.
The staff in your district's payroll office play a key role in administering your 403(b) plan. We rely on them to make our communications to you and our participants as smooth as possible. If there have been personnel changes, it would be greatly appreciated if you could let us know. You can call us at 1-800-279-4030 or e-mail us at firstname.lastname@example.org with the name, phone number, and e-mail address of who would be our best contact should we have any questions.
Please communicate any changes in your staff's employment status. In order to determine if an employee is allowed to take a distribution from their 403(b) account, we need the most recent employment status on file and the date of separation, if separation has occurred. Please review employees’ status through the your PLAN ACCESS web portal and make any changes necessary.
Keep in mind that if an employee returns to the district in any capacity, it is the school district’s responsibility to update the employment status. If you have any questions regarding how to update the employment status, please call 1-800-279-4030 to speak with a Member Service Representative.
Be aware that employee start dates are important with regard to participants’ 403(b) accounts. Those dates are critical to calculating contribution limits under IRS rules. We will be asking for this whenever a new employee starts. We appreciate your assistance in helping us gather that information in order to meet regulatory requirements.
Have you made any amendments to your plan documents such as updated vendor lists, or have you added Roth 403(b) contributions as an option? If so, it is very important that you provide us with a copy of the amended information so we can make sure we comply with the plan directives and provide correct information to employees. This will save phone calls to your district when transactions are requested and potential errors in processing transactions for the plan.