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Retirement

RETIREMENT SYSTEMS

Fringe Benefit Consortium (FBC):

The Fringe Benefits Consortium Deferred Compensation Program (FBC) serves member districts in San Diego County, Riverside County, and Imperial County. FBC is a retirement program designed to help educators build and grow their savings in order to achieve their retirement dreams. They assist the District with 403(b) and 457(b) plans. Make an appointment with your District Retirement Specialist David Meade to discuss your PERS or STRS retirement as well as setting up a 403(b) or 457(b) plan. You can set up an appointment by calling (619) 541-5805 or email david.meade@empower-retirement.com.  For more information regarding the approved vendor list, planning tools, plan forms, and investment options, please visit fbcretire.com

 

17/18 FBC Calendar

Date

Purpose

District Location

Time

2017

8/17/2017

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

9/21/2017

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

10/9/2017

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

10/24/2017

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

11/28/2017

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

12/1/2017

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

2018

1/25/2018

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

2/27/2018

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

3/8/2018

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

3/28/2018

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

4/5/2018

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.

4/17/2018

Per Appointment

Fiscal Bus Services

8:30 a.m.-5:00 p.m.


NBS has created an educational video for employees who are starting or changing their contributions:  https://youtu.be/sicnXy-xQVA


National Benefit Services, LLC 

We are pleased to announce the 457(b) Retirement Plan as an added benefit to our employees.  The 457(b) Retirement Plan acts very similar to a 401(k) Plan and provides several benefits, including:

- Contributions to the plan are tax deductible meaning that you do not pay taxes on contributions made to the plan.  This also reduces income tax expenses and may very well reduce your tax bracket.  Taxes will be paid on the funds when taken from the account at retirement.

- Loans or Unforeseeable Emergency withdrawals can be taken from the account if certain circumstances are met.  This will slow the path to retirement but can provide financial relief in a time of need.

- Contribution limits are much higher.

More information on 457(b) Plans can be found by following the link in the enclosed PDF.

We are excited to offer this valuable benefit to our employees, and encourage everyone to participate.  Once you have established an account with a Vendor, please complete the "Salary Reduction Agreement" form indicating how much you would like to contribute.  After that, please return it to your payroll or benefits department and they will take care of the rest.

Thank you!


CalSTRS (California State Teachers' Retirement System):

CalSTRS.com

CalSTRS Member Handbook - This handbook will help answer many of your questions that you have about benefit coverage.

CalSTRS or CalPERS - This publication will help explain the differences between the two retirement systems, changing from one system to the other, and dual membership.

Planning for Retirement- This handbook will provide you with a step-by-step guide to planning your retirement with CalSTRS.

CalSTRS Power of Attorney- This link will provide you with the most up-to-date CalSTRS Power of Attorney Form.

Social Security, CalSTRS, and You- This article discusses the impact your CalSTRS pension may have on your Social Security benefit earned from other employment. This article also discusses the Windfall Elimination Provision and the Government Pension Offset and provides sample calculations for both. For more information regarding the Windfall Elimination Provision, please see SSSAP Bulletin No. 2.

Working After Retirement Fact Sheet- If you are considering working after retirement, you may want to review the rules and earnings limitations discussed in this CalSTRS Publication.

Contact Information

Mailing Address: P.O. Box 15275 Sacramento, CA 95851-0275
Customer Service Phone Number: 1-800-228-5453
Centralized Fax Number: 1-916-414-5040
 

CalSTRS Local Counseling Offices:

Murrieta                                                                                                                                                                                                            Riverside County Office of Education
24980 Las Brisas Rd
Murrieta, CA 92562
Call for an appointment 1-800-228-5453 Select option 3

Hemet
Hemet Teachers Association
1779 East Florida Avenue, Suite B-2
Hemet, CA 92544
Call for an appointment 1-800-228-5453 Select option 3

Riverside                 
Riverside County Office of Education
3909 12th Street
Riverside, CA 92502
Call for an appointment 1-800-228-5453 Select option 3
 



CalPERS (California Employees' Retirement System) :

CalPERS.ca.gov

CalPERS Member HandbookThis handbook will help answer many of your questions that you have about benefit coverage.

Planning for RetirementThis handbook will provide you with a step-by-step guide to planning your retirement with CalPERS.

Service Retirement Application - This link will provide you with information needed to apply for CalPERS service retirement.

CalPERS Power of AttorneyThis link will provide you with the most up-to-date CalPERS Power of Attorney Form

Social Security Effect on CalPERS This article discusses the offset/reduction of CalPERS contributions.

Retirement Formulas and Benefit Factors- For a list of the age and benefit factors for Classic PERS members and PEPRA new PERS members, please see the charts below.

2% @ 55 (Classic PERS members)

2% @ 62 (PEPRA new PERS members)
 

PERS Contact Information

Customer Service Number: 1-888-225-7377
Customer Service Fax Number: 1-800-959-6545

CalPERS Regional Offices:

San Bernardino Regional Office
650 E. Hospitality Lane Ste 330
San Bernardino,  CA  92408
Office Open Mon- Fri 8:00 - 5:00
Call for appointment 1-888-225-7377

San Diego Regional Office
7676 Hazard Center Drive Ste 350
San Diego, CA  92108
Office Open Mon- Fri 8:00 - 5:00
Call for appointment 1-888-225-7377
 



3121 Plan (Alternative to Social Security)

The 3121 plan is offered to TVUSD substitute employees only who are not eligible to participate in CalSTRS or CalPERS. The 3121 Plan is a savings program for employees. Employees contribute 6.2% of their gross earnings to the plan pre-tax and TVUSD contributes and additional 1.3% of their gross earnings to the plan. Please see the 3121 Plan Overview for more detailed information of the 3121 Plan.

You are eligible for a distribution of these funds only under one of the following circumstances:

  1. If you terminate from the school district or move to another district that does not participate in this program.

  2. If you retire and are no longer working for TVUSD.

  3. You may take a one-time in-service withdrawal from your account if you have not made any contributions to the 3121 plan for two years and have a balance that is less than $5,000.

  4. You may transfer your 3121 account balance to PERS or STRS at any time if it is used to purchase state retirement credits.

To request a distribution, you will need to complete a Distribution Form. If you would like to update your Beneficiary Information, please complete a Beneficiary Form.

3121 Plan Frequently Asked Questions