403b/457b Information


The FBC Model Plan, designed to bring comprehensive financial wellness, education and retirement planning services to you and your employees. We're excited about the service improvements we’ll now be able to offer including a dedicated phone number and email setup to serve both our member districts and charters. Through this number and email you will connect with an FBC dedicated representative who is fully licensed and will not be servicing other plans. They are local and located in Southern California.


The new websiteFBCmodelplan.com, is live and full of valuable information for you and your staffHere you will find comprehensive information about the FBC Model Plan, watch timely market update videos, access financial education resources, enroll quickly and easily, and more. The new site is "mobile compatible," meaning it will work just as well from a smartphone or tablet which will help employees who do not have a computer at home. 


For future inquiries,


Helpful links:





403b & 457 Programs: 
Third Party Administrator:   

Effective December 1, 2019, SchoolsFirst Plan Administration, LLC, replaced National Benefits Services as the Plan Administrator for the San Diego County Office of Education/Fringe Benefits Consortium's Deferred Compensation Program, covering the 403(b), 401(a), and 457(b) and 3121 Plans. Please note that this change does not affect Empower Retirement, who will remain the preferred Investment  Provider with the Plan.


Salary Reductions are processed on every payroll check that one receives.  Example:  Certificated staff are paid 11thly, if they pick up additional contract days that results in an additional paycheck, an additional deduction will occur.  Classified staff can be school session 10 month, or 11thly, the same additional deduction would occur if additional days are added to their contract days.


Information, forms and instructions and more can be found on SchoolsFirst's website. SchoolsFirst's webpage
Salary Reduction Agreements must be initiated with SchoolsFirst.  Please autilize the website above or call 1-800-462-8328 extension 4727 for assistance.
403b and 457 plans are voluntary retirement plans. They give you the opportunity to contribute to additional retirement funds with pre-tax dollars. Investments can be made to both a 403b and a 457.
ALL employee classes are eligible to participate in this program. Full-time, Part-time, Substitutes, etc.....
To get started:
  • Choose a company from the Approved Vendor lists below.
    • You can compare 403b companies at 403b Compare's website.
    • 457 vendors you call directly. Phone numbers are on the Approved Vendor list below.
  • Contact the company to set up investment account.
    • The company will have paperwork for you to complete to set up the accounts.
  • Once Account is set up with the company
      Visit the SchoolsFirst's Forms website at  SchoolsFirst's
If making excess contributions a Maximum Contribution Worksheet must accompany the Salary Reduction Agreement form.
Differences between the 403(b) Plan and the 457(b) Plan:
403(b) 457(b)
  • Withdrawing funds prior to age 59 ½ incurs a 10% early withdrawal penalty levied by the IRS.
  • No 10% penalty for early withdrawal.
  •  Attainment of age 59 ½ qualifies as a distributable event that permits you to withdraw funds from your account.
  • Attainment of age 59 ½ does not qualify as a distributable event.
  • There are many vendors who offer 403(b) plans within your district.
  • The FBC Plan may be the only 457(b) option within your district.
  • 403(b) plans may permit you to exceed the $20,500* annual contribution limit if you have at least 15 years of service with our current employer.
  • No 15 years of service catch-up option.
  • No catch-up for entering your final 3 years of services of service prior to retirement.
  • 457(b) plans may allow you to exceed the $20,500* annual contribution limit if you are entering your final 3 years of employment prior to retirement.