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Hemet Unified School District

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403b/457b Information

David Meade | Retirement Plan Advisor

Empower Retirement

FBC/SDCOE Deferred Compensation Program

591 Camino De La  Reina, Suite 530, San Diego, CA 92108
(619) 541-5805 | Email:
 david.meade@empower-retirement.com

https://www.myfbcretirement.com/

 

Empower is the only TSA approved vendor

 

Learn more about your Pension and
403b/457 Plans

 

6/20/2018          By Apppointment      District Office     8am - 4:30 p.m 

 

Date

Purpose

Location

Time

5/14/2019

By Appointment

District Office

9am - 4:30pm

5/28/2019

By Appointment

District Office

9am - 4:30pm

6/11/2019

By Appointment

District Office

9am - 4:30pm

6/25/2019

By Appointment

District Office

9am - 4:30pm

7/12/2019

By Appointment

District Office

9am - 4:30pm

8/7/2019

By Appointment

District Office

9am - 4:30pm

9/4/2019

By Appointment

District Office

9am - 4:30pm

9/18/2019

By Appointment

District Office

9am - 4:30pm

10/2/2019

By Appointment

District Office

9am - 4:30pm

10/16/2019

By Appointment

District Office

9am - 4:30pm

11/6/2019

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm

TBD

By Appointment

District Office

9am - 4:30pm


 

For an appointment please contact David Meade.
meade@empower-retirement.com or 619-541-5805

 

 

403b & 457 Programs: 
Third Party Administrator:        National Benefit Services, LLC/Fringe Benefits Consortium
 
Information, forms and instructions and more can be found on Fringe Benefits Consortium website. Fringe Benefits Consortium Home Page
 
 
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
    • Submit a Salary Reduction Agreement** to the Benefits Department. This will start your contribution into your account.
 
**Salary Reduction Agreement form must be submitted to the Benefits Dept by the 10th of the month in order to take effect on that month's payroll.
 
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 $18,500* 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 $18,500* annual contribution limit if you are entering your final 3 years of employment prior to retirement.