Bastrop Independent School District offers employees the opportunity to participate in a "before tax" retirement savings plan.
The Bastrop Independent School District has chosen to have the 403(b) Plan administered through the Region 10 Retirement Asset Management Services (RAMS)* program.
The Region 10 RAMS 403(b) Administration Services are offered to public school districts and other education agencies in Texas.
BISD's Administrator is JEM Resource Partners (JEM). JEM is the third party administrator contracted through Region 10 to provide this service. Contact JEM Resources Partners at 1-800-943-9179 or http://www.region10rams.org/contact
Vendors who (a) are on the approved list of 403(b) vendors products published by the Texas Teacher Retirement System (TRS) and (b) agree to follow BISD'S 403(b) plan rules and meet the administrative requirements necessary to keep the plan in compliance with federal and state laws will be available in the plan.
JEM is completely independent of the investments and vendors offered in the plan and JEM will not sell 403(b) products to employees.
Every eligible employee of the District should supplement his or her Teacher Retirement System Account. Careful planning for your retirement years should begin early so that your money can work for you and your financial future.
All contributions are deducted from your paycheck before income taxes are withheld. For the tax year in which you contribute, your income may fall in a lower tax bracket, resulting in lower taxes paid to the IRS. Contributions grow tax-free and any earnings are also tax deferred until they are withdrawn. You will usually be in a lower tax bracket at retirement, when you can begin distribution.
TAX YEAR 2016
contribution for age 50 and older