Bartholomew consolidated schools
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Bartholomew Consolidated Schools. 403(B) Plan 401(A) Plan VEBA 2013. All BCSC employees are eligible for 403(b) salary reduction. Deductions are taken out of 20 pays for non-contracted and non-year-round employees Deductions are taken out of 26 pays for contracted and year-round employees.

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Bartholomew Consolidated Schools

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Bartholomew consolidated schools

Bartholomew Consolidated Schools

403(B) Plan

401(A) Plan

VEBA

2013


Bartholomew consolidated schools

  • All BCSC employees are eligible for 403(b) salary reduction.

  • Deductions are taken out of 20 pays for non-contracted and non-year-round employees

  • Deductions are taken out of 26 pays for contracted and year-round employees.

  • All 3 vendors will have reps visiting the buildings after the start of school

  • You can also call and schedule an appointment if you missed them


Bartholomew consolidated schools

403(B)

  • No hardship withdrawals

  • No loans

  • No catchup deferrals

  • Blank salary reduction agreement on BCSC website


403 b investment choices

403(B) Investment Choices

  • METLIFE

    • Annuities (57 choices)

      • $30 Account Fee

      • .50% Mortality Fee

      • No Surrender Fee (except fixed fund)

    • Mutual Funds (29 choices)

      • .28% Account Fee + expense ratio of fund(s)


403 b investment choices1

403(B) Investment Choices

  • AIG Retirement (VALIC)

    • Annuities (29 choices)

      • No Account Fee

      • .75-1.25% Mortality Fee

      • No Surrender Fee (except fixed fund)

    • Mutual Funds (Internet Only) (90 choices)

      • $40 Account Fee + expense ratio of fund(s)


403 b investment choices2

403(B) Investment Choices

  • ASPire (403b ASP)

    • $40 Account Fee + .10% Management Fee + expense ratio of fund(s)

    • 40 Mutual Funds through Edward Jones

    • Option of Self-directing through 403(b) ASP (Internet Only)

      • Thousands of mutual funds to choose from

        • Apply on the 403bASP-BCSC website

        • When account is set up, fill out a BCSC salary reduction agreement, sign, and send to Business Office

        • No rep or broker to work with


Rollovers exchanges and transfers

ROLLOVERS, EXCHANGES, AND TRANSFERS

  • Rollovers- monies from a previous employer 403(b) or similar plan; check was received

  • Transfers- monies from a previous employer 403(b) or similar plan; directly sent to new 403(b) vendor (no cash or check involved)

  • Check to see if there are any surrender charges from the vendor losing the funds

All Permitted


401 a

401(A)

  • BCSC matches up to 3% of your base salary

  • Monies are sent to Metlife regardless of your 403(B) vendor

  • An account will be set up with Metlife for the 401(A)

  • You invest the monies just like you would in your 403(B)

  • 5 year vesting


Bartholomew consolidated schools

VEBA

BCSC BUYS YOUR UNUSED SICK DAYS OVER 180 FOR $43 PER DAY

FUNDS CAN ONLY BE USED FOR HEALTH-RELATED EXPENDITURES WHEN YOU RETIRE


Health savings account hsa

Health Savings Account (HSA)

  • What are they?

  • HSAs are tax-advantaged medical savings accounts available to taxpayers who are enrolled in an HSA-qualified high-deductible health plan.

  • The funds contributed to the account are not subject to federal income tax at the time of deposit.

  • Unused amounts in one year can be carried over to following years and added to subsequent contributions.

  • HSA Contribution Limits:

  • Individual: $3,100 for 2012, and an increase to $3,250 for 2013

  • Family: $6,250 for 2012, and increase to $6,450 for 2013

  • Individuals age 55 and over may make an additional “catch up” contribution of up to $1,000 in 2012 and in 2013. A married couple can make two catch-up contributions as long as both spouses are at least 55 and are enrolled in the HSA health plan.


Questions

Questions?????


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