2019 Annual Limits:
- $19,000 for 403(b) Tax Shelter Annuity and 403(b)Roth, combined.
- $19,000 for Deferred Compensation Plan Pre-tax and Roth, combined.
- $6,000 Catch-up contributions for age 50 or over.
Enrollment Letter -The Edina Public Schools ISD #273 has an approved list of vendors for 403 (b) services. The district recognizes that it is the employees' responsibility to make their own investment decisions. The sample questions listed below are provided to assist employee's in their decision making process.
- The Advisor
- Ask about advisor's education, background, credentials, and licenses
- Ask how they are paid
- Ask whether they are registered with the Securities Exchange Commission
- Ask about any product limits
- Ask about who is involved with my 403 (b)? (i.e. third-party administrators, advisors, record keepers)
- The Investment
- Ask if the investment makes sense for you in light of your goals, timeline and risk tolerance
- Ask the type of products offered: Variable Annuity, Custodial Mutual Fund, Custodial Mutual Fund Open Architecture, Custodial Mutual Fund Direct, Fixed Interest Account, Stand Alone Fixed Interest Annuity.
- The Fees
- Ask your advisor to disclose in writing, all the direct and indirect fees that are included in the product they are recommending. (i.e. withdrawal fee, fees on purchases and sales)
- Ask how these fees compare to other investment options available to you
- Performance History
- Ask the advisor to provide a 3,5, and 10 year performance history
FormPlease download the form by clicking on the above link. Below is only a sample of the form.
TSA -Tax Sheltered Annuity 403(b) retirement plan, which is a pre-tax contribution. This contribution must be selected to receive the district match, if eligible.
ROTH – a 403(b) retirement plan which is not a pre-tax contribution.
DCP – Deferred Compensation Plan for retirement, which is a pre-tax contribution, or a ROTH which is not a pre-tax contribution.