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403(b) Documents
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403(b) Summary Plan Document
2024 - Wallingford-Swarthmore SD - 403b Summary Plan Description.pdf 259.66 KB (Last Modified on June 20, 2024)
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Due to COVID restrictions, we are utilizing this video in place of the in-person presentation. Please view the 2021 mandatory educational video about the WSSD 403(b) program: https://4kmc.com/tpa-wallingford-swarthmore/The Wallingford-Swarthmore School District maintains a 403(b) and 457(b) plan with numerous providers to choose from and all employees are eligible to participate. Contributions are withheld pre-tax from the employee's paycheck and are made via salary reduction (unless the employee elects the Roth 403(b), which is withheld after tax). Investment accounts, including 403(b)/457(b) tax-deferred annuities and Roth 403(b)s, are subject to limitations regarding how much can be contributed each calendar year. (Please note that the District does not contribute to this plan.)
Information Regarding 403(b) and 457(b) is available below:
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How do I start contributing to a 403(b)/457(b) plan?
- Contact one of the 403(b) Investment Providers offered by the District to open a tax-sheltered annuity (TSA) account.
- Complete the Salary Reduction Agreement (SRA) found on the 403(b) page or the TSA Consulting Group’s website (www.tsacg.com). Note that when opening up a new 403(b) you will need to get the investment provider representative’s signature. This is true for all providers except Vanguard. Because Vanguard does not have field representatives, you will not be able to get the signature. Just make sure you write down the new Vanguard account number on the salary reduction agreement.
- Turn in the Salary Reduction Agreement to the district payroll office.
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Which Investment Providers participate with the 403(b)/457(b) plan offered by the District?
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How do I make my current 403(b)/457(b) plan
To change your salary reduction amount, change Investment Provider (funding vehicle vendor), or to discontinue your salary reduction:
- Complete the Salary Reduction Agreement (SRA)
Parts 1 through 6 must be completed.
Part 7 is only required if you are opening a new account. Vanguard participants should include the Vanguard account number for new accounts since Vanguard doesn’t have field representatives to sign the form.
- Forward the SRA to the district payroll office
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Salary Reduction Agreement (SRA) form
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How to complete Part 4, Part 5, Part 7, and Part 8 of the Salary Reduction Agreement?
Part 4: Voluntary Salary Reduction Information
Check all applicable boxes. Also, the implementation day must be completed.
Part 5: Funding Vehicle & Amount of Pre-Tax Election Deferrals
Enter percentage or dollar amount contribution per pay period and the funding vehicle (investment provider).
Part 5a: Funding Vehicle & Amount of After-Tax Salary Reduction Contribution to the Roth 403(b)
Same instructions as Part 5.
Part 7: Representative Signature
403(b) Representative’s signature only required for opening a new account. Vanguard participants should include the Vanguard account number for new accounts since Vanguard doesn’t have field representatives to sign the form.
Part 8: Employer Signature
Forward the completed SRA form to the district Payroll Office or district Human Resources Office. The Human Resources director will review all forms.
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How do I switch 403(b) providers?
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403(b) and 457(b) Plan Information for Distributions, Exchange, Transfers, Loans, Rollovers, contact your plan provider and visit Tax Shelter Annuity's (TSA) Online Distribution System to process the request, and click this link:
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For additional information about the 403(b) program
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A Summary of the WSSD's 2021 - 403b TSA Program
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What company is administering the District's 403(b)/457(b) tax-shelter account program?
The District has chosen the TSA Consulting Group, Inc. as the third-party administrator because of their experience and reliability. They employ a full-service flexible technology platform that provides secure Internet access by both employers and employees. You can get immediat3e answers to your questions regarding all contributions and transaction processing requests, as well as, access all necessary forms on their website www.tsacg.com. (NOTE: The TPA charges no fees to employees unless you are investing your funds with Vanguard. Currently, there is a $24 annual fee if you are with Vanguard. There may be fees associated with your investment that your investment provider and/or investment fund may charge).
