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In an effort to increase its outreach efforts and to improve on-site services, representatives from the California State Teachers’ Retirement System (CalSTRS) will be delivering specialized workshops to Peralta employees during pre-Professional Development Day activities on Tuesday, August 12, 2014. These workshops are for Peralta employees enrolled in the Cash Balance plan and/or Defined Benefit plans.
2:00 pm: Cash Balance Participants (Kevin Dunn, CalSTRS Representative)
2:30 pm: Defined Benefit Members (Kevin Dunn, CalSTRS Representative)
This workshop describes the basics of CalSTRS as the foundation of your personal retirement planning. You will learn:
3:00 pm: CalSTRS Pension2 (John Schiffler, CalSTRS Representative)
Your CalSTRS Defined Benefit will replace only a portion of your current salary. Need more for retirement? CalSTRS has a plan to get you to your goals. You can set aside extra money into a low-cost and flexible supplemental savings program. Learn more about 403(b), 457, and 403(b) Roth accounts.
No advanced registration with CalSTRS is required to attend these workshops. Come and bring a friend. If you are not sure if you have Contributed to CalSTRS through Peralta or other employment, contact CalSTRS directly at 800 228 5453 or online at www.calstrs.com.
These events are proudly sponsored by the Peralta District Benefits Office.
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.