Tax Sheltered Annuity

  • As an employee of San Juan Unified School District you are eligible to participate in the District’s 403(b) or 457 plans.  
     
    Participation in these plans is voluntary and allows you to contribute pre-tax dollars through payroll deduction.  These plans are commonly referred to as Tax Sheltered Annuities or TSA plans.  
     
    How to Establish a 403(b) and/or 457 Account:
     
    Eligible employees may establish a 403(b) and/or 457 plan by contacting an approved Financial Investment company. (List of approved investment companies to the right.) The district's third party administrator, National Benefit Services (NBS), has provided a guide on How to Research Investment Providers through CalSTRS 403b compare website .  In addition, we recommend that employees view NBS's presentation on the basics of a 403(b) and 457 plan and how to enroll which may be viewed here.
     
    NBS provides a comprehensive online platform which will provide you with forms, vendor information and basic information about your deferred compensation retirement plan.  The website is: http://www.nbsbenefits.com/non-erisa-403b-forms/  In the first drop down box, select California and the San Juan Unified School District.  This website will provide you with all of the necessary forms you will need to apply for a loan or distribution from your account (Loan, Hardship or Distribution/Rollover Form), exchange funds between vendors (Exchange Form), or change your monthly allocations (Salary Reduction Agreement). 
     
    How to Set Up Payroll Deferrals into a 403(b) or 457 Account:
     
    Once you set up your investment account directly with the investment provider, you will need to submit a salary reduction agreement form to designate the amount you wish to have deducted from your pay.   Salary reduction agreements must be submitted to NBS by the 5th of the month for the month you want the change to occur. A salary reduction agreement may be completed directly online.    Instructions on how to establish an on-line NBS account.
     
    If you have any questions, please contact NBS's Service Delivery Team dedicated to provide excellent service.  The contact information for the Service Delivery Team is:
     
    Phone: (800) 274-0503 extension 5
    Email:   403bservice@nbsbenefits.com
    Fax:     (800) 597-8206
     
     
    Educational Workshops on 403(b) and 457 Investing
     

    National Benefit Services has vetted three financial and education investment firms to educate San Juan employees.  Each investment firm has representatives who employees may contact to obtain assistance in setting up a 403(b) and/or 457 account.  In addition, the District hosts monthly information workshops for employees to learn about investing in a 403(b) or 457 account.  Workshops are announced in the Behind the Scenes employee newsletter.

    Educational Financial Advisors contact list.

    The attached document, Employee Financial Opportunities, provides basic information on tax sheltered annuities and section 125 cafeteria plans .

     

     
     
Last Modified on February 25, 2021