Retirement Savings Plans – 403(b)/457(b)

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 thillr@nationwide.com.

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”.

403(b)/Roth 403(b)/457(b) Plan Deferred Compensation Program Forms Packet

(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.