Please click the following announcement for information on Supplemental Retirement Saving Opportunities.
Oregon Savings Growth Plan 457
The Oregon Savings Growth Plan (OSGP) is the state’s 457 Deferred Compensation Plan. All employees of David Douglas School District are eligible to participate in this retirement savings plan. This plan is separate from the 403(b) plans and has its own limits and rules of participation. To receive an information packet regarding OSGP, contact payroll. You can also contact OSGP’s information line at 800-365-8494 or visit their website at www.osgp.csplans.com to obtain the latest educational workshop schedule and to learn more about the plan.
With tax-deferred benefits, state-of-the-art participant servicing and a wide range of investment options, the Oregon Savings Growth Plan is a terrific opportunity for you to take control of your financial future. The automatic payroll deductions make it easy to steadily build your account and you can manage your account at your convenience using the toll-free phone number or by going to the OSGP website. You can participate in both a 457 and a 403(b) plan. The limits are completely separate and, if you participate in both, you can double the amount of tax deferred savings.
Get your information packet today!
TSA Program – Tax Sheltered Annuity 403(b)
David Douglas School District offers an excellent program through which you may contribute a portion of your current income into supplemental retirement savings accounts. Such contributions reduce your current taxable income and thus allow you to save more than you could from after-tax income, with the same resulting current spendable income. Moreover, it may be reasonable to expect that you will be in a lower tax bracket when you retire and begin to withdraw these funds.
All district employees are eligible to contribute to the TSA program. For details about contribution limits, authorized investment companies, enrolling in the programs, etc., David Douglas School District contracts with Carruth Compliance Consulting (CCC) to provide management and oversight of our TSA 403(b) program. The Carruth Compliance Consulting website www.ncompliance.com/guest_employees.aspx?EmployerID=10 includes information specifically for David Douglas School District, including enrollment procedures, information about vendors associated with the plan and a Salary Reduction Agreement form.
Once you have made it to the Carruth Web Site [Click on For Employees] – [Scroll Down to find David Douglas School District] – [Click once to take you to the page specifically created for DDSD.]
Any transfer from a 403(b) TSA account with one vendor into a 403(b) TSA account with a different vendor requires that the receiving vendor enter into an Information Sharing agreement with CCC. The list of TSA vendors that have entered in Information Sharing Agreements with CCC is available on the web atwww.ncompliance.com. Be sure to review information about such transfers on the CCC website at www.ncompliance.com before proceeding with any contemplated transfer.
403(b) TSA FORM IS ON THE CARRUTH COMPLIANCE WEBSITE UNDER THE DAVID DOUGLAS SECTION.
Please print it out and send it to payroll at least 15 days before payday to be deducted from your paycheck.