403(b), and/or 457(b): Plan ahead for a satisfactory retirement. Contribute to a 403(b), and/or 457(b) account on a tax-free basis. Set aside as much as $17,500 in 2014, plus an additional $5,500 if you are age 50 or older by 12/31/14. For more information consult your financial planner. If you don’t have a financial planner, you may use those provided by San Diego County Schools Fringe Benefits Consortium.
For assistance, contact Randy Thill at 760.845.2596 or by email at firstname.lastname@example.org.
Roth 403(b): Palomar College also offers a Roth 403(b) plan. The only Roth 403(b) vendor is the Fringe Benefits Consortium. Investment options are outlined in the forms packet on the page headed “Nationwide Enrollment Form”.
(Forms must be printed, they cannot be completed online)
- Use the Salary Reduction Agreement in the Forms Packet to begin, change or cancel your current contribution amount.
- Forms must be received by Human Resources on or before the last working day of the month to be effective in the next month’s payroll. There are no exceptions.
- For a complete list of approved vendors, go to http://www.fbcretire.com/, click on “Approved Vendor List”. These vendors have signed the necessary IRS-compliance agreements and are considered approved for Palomar College employees.
For more information about benefits, please contact Lucy Nelson, Benefits Specialist, at ext. 2889.