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403(b) Annuity

403(b) Annuity

As your 403(b) Plan Administrator, we’d like to make you aware of your eligibility to participate in your employer’s 403(b) retirement plan. The 403(b) plan (oftencalled a “tax-sheltered annuity” or TSA) is a voluntary plan that allows you to defer a portion of your paycheck to a savings plan.
 
This is a benefit offered by your employer to help you bridge your retirement income gap and lower your taxes. Please continue reading for details on how to enroll and how easy it is to start saving now.
 
In accordance with BISD Policy GKDA (Legal), the District does not endorse the solicitation of any tax deferred or other benefit plans on any campus/department.

HOW TO GET STARTED

Step One: Create an account with an approved vendor
  1. Visit www.region10rams.org/documents.
  2. Search for your employer and open the 403(b) Approved Vendor list.
  3. Evaluate and contact a vendor on the list and contact them directly to establish your retirement account.
 
Step Two: Set up your RAMS 403(b) account
  1. Visit www.region10rams.org/enroll.
  2. Enter the name of your employer and select the 403(b) Admin Plan.
  3. Follow each step until you get a completion notice.
  4. You’re done!

WHO SHOULD PARTICIPATE?

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.

TRS APPROVED 403(b) VENDORS

BASTROP ISD 403(b) SUMMARY PLAN DESCRIPTION

Save More and Take Home More!

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 Contributions grow tax-free and any earnings are also tax-deferred until they are withdrawn.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.

  • You may contribute up to $23,000 for 2024 if you are under age 50 and $30,500 if you are 50 or over.

Frequently Asked Questions (FAQs)

403(b) Plan Description, Resources, Forms and FAQs

MAKING A CHANGE TO YOUR CONTRIBUTION:

If you are changing your elections for the first time, you will need to enroll by choosing ‘Login’ on the left-hand menu and clicking “New to the system? Enroll Now!” You will need your Social Security Number and the plan password provided on the Summary Plan Description for your Employer.  (The Summary Plan Description can be found by clicking on the link in the section above titled, BASTROP ISD 403(b) SUMMARY PLAN DESCRIPTION.)  The elections you make during the enrollment process will take the place of your current elections.

If you have already enrolled on our system, you can make future changes online by clicking the ‘Login’ button on the menu and accessing your account.

The following transactions can be made online:

  • Contribution Amount
  • Investment Provider Allocation Percentages

 

 
Dominick Zucconi
Senior Retirement Plan Specialist

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Risk & Insurance | Employee Benefits | Retirement & Private Wealth
Ready for tomorrow.


 
 
HUB Investment Partners
900 S Capital of TX Hwy, Ste. 350
Austin, TX 78746

Office: 512-600-5342
Mobile: 210-900-9322