403(b) Tax-Sheltered Plans
Employees of public educational institutions and certain tax-exempt organizations are eligible to participate in a 403(b) tax-deferred retirement plan. These tax-sheltered annuity plans allow you to make pre-tax contributions by payroll deduction and save that money for retirement.
Financial security in retirement takes planning and commitment. The sooner you start saving, the more time your money has to grow. Employees should consider making contributions to accounts qualified under section 403(b) of the Internal Revenue Code. All employees, without exception, are eligible to participate.
Employees who are interested in enrolling should contact one of the participating providers in the approved vendor list to complete the necessary form for payroll deduction.
Apply for Loans, Hardship Withdrawals, and Other Distributions
The Augusta County School Board uses a third-party administrator who is responsible for assisting in the compliance of 403(b) regulations concerning plan disbursements. Through the Retirement Manager system, employees may request a Distribution Eligibility Certificate (DEC) to begin the process of applying for disbursements from their plan.
The Retirement Manager website gives employees easy ways to manage and learn about your retirement benefits. You are able to:
Further protect your financial data by creating your own unique User ID and customizing your preferences
Navigate easily to important tasks related to your retirement plans
Quickly locate retirement plan information and investment provider contacts
Access important financial topics and information about current market trends