• Retirement Planning

    403(b) Tax Deferred Annuities

    A 403(b) is a Tax-Deferred Retirement Plan. They are similar to 401k plans because they allow you to place a percentage of your salary into an employer-sponsored plan that helps you save for retirement. You will not have to pay taxes on your contributions or earnings made until the money is withdrawn.

    Benefits Include:

    • Tax-deferred growth: no annual taxation on earnings
    • Investment options: fixed annuities, variable annuities or mutual funds
    • Competitive interest rates
    • Flexibility: start, stop, and adjust your contributions as needed throughout the year
    • Financial hardship withdrawals and loans may be available

    To participate in a 403(b) you must contact an agent/representative and select a District approved company and complete the required paperwork A list of approved companies can be found on the Omni website. For information, contact Omni's Retirement Services Department at (877) 544-6664.

    Important Forms & Information:

    New TPA Announcement

    www.omni403b.com

    Approved Vendors List

    Omni 403(b) Salary Reduction Agreement Form (SRA)
     

     

     

    457 Deferred Compensation Plans

    A 457 Plan is a Tax-Deferred Retirement Plan available to all eligible district employees. They are similar to 401k plans because they allow you to place a percentage of your salary into an employer-sponsored plan that helps you save for retirement. You will not have to pay taxes on what you contribute or earnings you made until you withdraw the money.

    Benefits include:

    • Investment options: fixed annuities, variable annuities or mutual funds
    • Flexibility: start, stop and adjust your contributions amounts as allowed under your employer’s plan
    • At early retirement or severance of service from your employer, distribution can be made without the 10% IRS penalty tax, usually

    For questions regarding the 457 plan, you can contact:

    Cetera Investment

    Clint Muirhead (817) 870-1130  extension 122 or clint.muirhead@ceterainvestors.com

    Ryan Kelley (817) 870-1130 extension 115 or ryan.kelley@ceterainvestros.com

    teammuirhead.cetrainvestors.com

     

    As of June 20, 2019 Foresters Financial Services, Inc. representative will become Cetera Investment representatives. This change requires no action on the employees part. The only change will be to the name of the firm the representatives are associated with. Cetera Investment representatives will continue to service their participants through the Foresters Financial/ First Investors Funds payroll slot.

    OMNI is working closely with Foresters Financial to ensure that this transition is seamless. If you have questions concerning this name change, please contact your compliance specialist or our customer care center at 877-544-6664.