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403(b) & 457 (b) Plan Information

  • Faculty and staff may voluntarily contribute to a 403(b) account and/or a 457(b) account.

    Employees have the option to save for retirement by participating in Letchworth Central School District's 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, administered by The Omni Group. A 403(b) is a supplemental retirement plan which provides an opportunity to save money from each paycheck on a pre-tax basis while allowing the money to grow tax-deferred until retirement. For more information, the Universal Availability Notice is posted below.

    To participate, employees must complete the Salary Reduction Agreement online or fill out the paper version below.

    For more information, contact Wendy Hoffman in the Business Office or contact Omni directly at (877) 544-6664.

    The District 457(b) plan is administered through the NYS Deferred Compensation Plan (NYSDCP)

2023 MAC Limits

First page of the PDF file: 2023MacLimits

Maximum Allowable Contribution (MAC) Limits for 2023

Universal Availability

First page of the PDF file: 403b_UA_Notice_4354

Document Highlights Include: 

 

* You have the opportunity to save for retirement by participating in your Employer's 403(b) retirement plan. A 403(b) plan is a retirement plan for certain employees of public schools, tax-exempt organizations and ministries.

You can view the education page at https://www.omni403b.com/Employees/Education 

How can you Participate? 

https://www.omni403b.com/SRA

 

 

Salary Reduction Agreement

First page of the PDF file: SalaryReductionAgreement1

Click on document to view/print - This document needs to be filled out for Salary Reduction.