403(b) Tax Sheltered Annuity
The IRS allows employees of public schools to participate in tax-sheltered plans to set aside savings on a pre-tax basis for retirement. Employees may choose from a broad array of annuities and mutual fund plans. The Salary Reduction Agreement form and current list of approved vendors are both available at the Employee Benefits office.

15-Year "Catch-up" Calculation Worksheet

New 403(b) Plan
Effective January 1, 2009
As of January 1, 2009, The Hartford will be the sole approved vendor for 403(b) deferrals. In this new single vendor arrangement, Plan participants are provided with “best-in-class” mutual fund investment options with lower administrative and investment expenses. Most importantly, there are no surrender charges. Participants in the Plan seeking a broader choice of investment options will have access to a mutual fund window allowing them, for a transaction fee, to diversify their portfolio further and beyond the fund line up by purchasing any funds offered in the marketplace.

Mesa Public Schools is not mandating, or forcing any participant to transfer their existing account balances to the new provider, and therefore, are not being charged penalties. We strongly encourage you to wait to make any decisions until your current 403(b) Plan can be reviewed by a non-commissioned, objective third-party.

Through our agreement with The Hartford, each employee in a 403(b) account will have access to non-commissioned, objective Financial Planners through EdwardJones These EdwardJones Financial Planners will analyze your current Plan, and advise you on what’s best for you. They will look at your full investment picture.

Educational meetings are being scheduled throughout the district, at a time and location most convenient for you. During September, October, and November you will have the opportunity to attend a meeting, and meet one-on-one with your EdwardJones advisor. Watch for the schedule of meetings at your sites, and check the web for the schedule.