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Forms for Staff

Forms for Staff

Omni Inside Edge Newsletter

403(b) Information

  • Considering (Optional) Tax-sheltered Benefit for 2020?

    1. Per IRS regulations, 403(b) Plan Participation at CHS D94 is open to all wage earners; except, students performing services for the District, employees who work less than 20 hours per week, employees whose annual contribution would be $200, or less, and nonresident aliens.  
    2. 403(b) participation is governed by the District 94 Plan Document designed in accordance with IRS Code for Tax-Sheltered Annuities. It allows for enrollment and participation to begin when District 94 employment commences; and, at other times during the year:  the first payday in anuary, the first payday in July, and the first payday in any other month that you choose to enroll.
    3. If you currently contribute to a 403(b) Plan, re-enrollment is NOT required for 2020.  Current (2019) plan participation will roll into the new (2020) calendar year.
    4. Changes for Plan Participants may be made for 2020. Must submit an updated form.
    5. Discontinuation is effective at any time, if necessary. Must submit an updated form.
    6. 2020 Plan Notice.   Universal Notice
    7. 403(b) Form for participation in a TSA SRA.
    8. Board Approved 403(b) Vendor List.
    9. Instructions for Initial participation, changes, and discontinuation for a 403(b) TSA Salary Reduction Agreement (SRA), and Misc. Plan Transactions.
    10. The Maximum Contribution Level for participants under age 50 is $19,000.
    11. The Maximum Contribution level for participants age 50 or older is $25,000.
    12. 403(b) SRA Forms for January 15, 2020 are due in the Business Office by 12-20-19.

    Account Related Misc. Plan Transactions

    For questions, please contact Chris Olsen at (630) 876-6223 or email colsen@d94.org. 

     

    403(b) TSA SRA Form for Current Contributors to make Optional Changes in 2020

    Please see the 403(b) TSA SRA form, if you are currently contributing to a Tax-sheltered Annuity and wish to make changes for Calendar Year 2020.

    • Under Age 50 Maximum Contribution Limit for 2020 is $19,500 
    • Age 50(+) Maximum Contribution Limit for 2020 is $26,000 

    Please return forms to Chris Olsen in the Business Office. Changes are effective with the first payroll of the month, after the form is received.