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Tax-deferred 403(b) & 457 Plan – 2014 Updates
2014 Calendar year contribution limits to each plan, the 403(b) and the 457 plan are have increased to $17,500. Other limits may apply. Check with your financial planner or tax consultant for limits appropriate to your circumstances.
MidAmerica is the tax-deferred plan administrator for the tax-deferred plan employee contributions since 2011 and has launched a new website for your use.
You are encouraged to use this website to get current information on:
vendor choices (where do you want to invest?)
- forms routing (where do you send your salary reduction agreement forms for processing?)
- acquiring signatures on your transactions (how do you obtain a district signature on loan and/or distribution forms?)
(Effective December 1, 2011, MidAmerica Administrative & Retirement Solutions, Inc. (MidAmerica) became our third-party administrator for the Peralta tax-deferred 403(b) and 457 plans. Voluntary deferrals, distribution, loan, transfer & exchange approvals are now being handled through MidAmerica.)
Salary Reduction Agreements (SRA’s) to affect a change to your enrollment in either the 403(b) or 457 Plan are due by the end of the month to effect the following month’s tax deferrals. So, to effect the January 31, payroll. Salary Reduction Agreement Forms are due to MidAmerica by December 31, 2011. Routing instructions are on the SRA form.
- Distribution/loan requests and rollover forms requiring District authorization should now be directed to Mid America with the Transaction Routing Form noted below:
- 403(b) & 457 Transaction Routing Form
- US Mail: 402 South Kentucky Avenue, Suite 500; Lakeland, FL 33801
- Fax: 877 513 2272
- Phone: 866 873 4240
- Weblink: www.midamerica.biz
- Contact your personal financial planner or tax advisor for counselling or you may also contact ZUK Financial Services at (800) 660-6291 extension 105.
- MidAmerica is the current vendor of the Accumulation Program for-Part Time and Limited-Service Employees (APPLE) Plan. For concerns regarding the APPLE contributions, contact MidAmerica at 800 430 7999.