Ever wanted to know what all those acronyms
on your paycheck represent?
Click on the links below to find out!
As a public school employee, you have the opportunity to participate in a tax-deferred investment plan. The 403b Tax Sheltered Annuity (TSA) program is unavailable to the general public. You pay no income tax on the amount you contribute, or subsequent dividends earned. If you would like information about the 403b TSA program you may contact your financial advisor or the District's TSA third party administrator, CalSTRS 403bComply, at (800)-943-9179 or visit CalSTRS403bComply. Before enrolling in CalSTRS 403bComply you will need to choose a vendor and contact that vendor to set up an account.
The 457(b) is a Deferred Compensation Plan (DCP) developed by the IRS to allow you to save pre-tax dollars for retirement to supplement your CalSTRS/CalPERS pension plan. On average, your pension replaces 50-65% of income in retirement. Currently, studies show that at a minimum, approximately 80% of income replacement is necessary to maintain the same standard of living in retirement. A 457(b), offered by SchoolsFirst FCU, provides school employees a way to bridge that gap while saving for retirement. This plan is can be used alongside or as an alternative to the 403(b) plan. For more information or to schedule an appointment click here.