Retirement Savings Accounts
The Social Security Administration (SSA) is no longer mailing an annual Social Security Statement to earners. You can create a personal login for ‘mySocialSecurity’ at https://www.socialsecurity.gov/onlineservices/ or https://secure.ssa.gov/RIL/SiView.do Any questions need to be referred to SSA: 1-800-772-1213.
The Teachers Retirement Association (TRA) mails an annual Statement of Account. Review your personal data and earnings record. Their web site is http://www.minnesotatra.org/ . Create your personal login called ‘myTRA’. Report differences to TRA: 651-296-2409.
The Public Employees Retirement Association (PERA) mails an annual Personal Benefit Statement. Review your personal data and earnings record. Their web site is http://www.mnpera.org. Create your personal login called ‘myPERA’. Report differences to PERA: 651-296-7460.
All employees are eligible to participate in the 403(b) plan. For additional information please review your contract language. The district offers several retirement savings account options:
- 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.
The annual limits for retirement savings accounts are:
- $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.
EnrollmentThe 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.