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Universal Availability Notice

As part of the IRS requirements of the Universal Availability Act (click here to read the official notice), the Oceanside Unified School District is notifying all employees, including hourly and substitute employees, of the opportunity to invest in a deferred compensation program (403(b) / 457(b) / Roth 403(b) plan).

Tax-Sheltered Annuities

Voluntary Retirement Savings Programs

Fringe Benefits Consortium Plans
Deferred Compensation Retirement Plans

403(b) / 457(b) / Roth 403(b)

 

What are 403(b), 457(b) and Roth 403(b) Plans?

These plans are voluntary retirement savings programs commonly called Tax-Sheltered Annuities (TSAs). 

 

403(b) & 457(b) Plans

  • Pretax deferrals (contributions)
  • Lowers taxable income
  • Increases your long-term savings
  • Savings will not be taxed until withdrawn

Roth 403(b) Plans

  • Post-tax deferrals (contributions)
  • Savings may be withdrawn tax-free

Why should you join the Fringe Benefits Consortium (FBC) Deferred Compensation Retirement Program?

  1. You may select from a large number of high quality, well-known investment options.
  2. It's convenient. Invest through payroll deduction
  3. You need a long-term investment savings plan to meet your retirement goals.
  4. Tax-deferral means your investments have the opportunity to grow faster.
  5. It's easy to get started!

TSA Plan Enrollment

Step 1: Choose a vendor & enroll

Option 1: Contact a TSA vendor

  • Contact the vendor to set up your account.

Option 2: Contact the FBC

  • Contact the District Representative to make an appointment:

Lindsay Frazier
Phone: (619) 823-1641

Email: lindsay.frazier@empower-retirement.com

  • OR Go online to www.fbcretire.com to complete and submit the Self-Enrollment Packet

Step 2: Set Up Contributions through Payroll Deduction

  • Start/stop/change TSA deductions any pay period, year round, by completing a Salary Reduction Agreement available on the Insurance Forms District webpage, online at www.fbcretire.com, or at the District Insurance Office.
     
  • Completed forms must be submitted and received in the District Insurance Office by the 15th of the month (with the exception of December, which is December 5th).
     
  • Employees MUST have completed contracts with an approved TSA vendor company, or with the Fringe Benefits Consortium, BEFORE submitting Salary Reduction Agreements to the District Insurance Office.

Universal Availability Notice

As part of the IRS requirements of the Universal Availability Act, the Oceanside Unified School District is notifying all employees, including hourly and substitute employees, of the opportunity to invest in a deferred compensation program (403(b)/457(b)/Roth 403(b) plan).

Please click here to read the Universal Accountability Act notice.