All St. Francis School District employees can save for retirement with the Tax-Sheltered Annuity (TSA) plan, also known as a 403(b) plan.  The financial products available under the 403(b) plan are fixed-rate annuities, variable annuities, and mutual funds.  For 2016, you can make maximum pretax payroll contributions of up to $18,000 if you are under age 50, and up to $24,000 if you are age 50 or older.  Here's how the program works:

• You enroll with an organization from the list of providers authorized by the St. Francis School District.  This means that the St. Francis School District has given permission to these providers to offer investment products to you.  However, you should do your own research so that you can choose the provider that is right for you.  The most current list, including contact information is listed below.  

All St. Francis School District employees can save for retirement with the Wisconsin Deferred Compensation (WDC) plan, also known as a 457 plan.

In 2020, the maximum amount you may contribute to your Wisconsin Deferred Compensation 457 Program (WDC) is $19,500 or 100% of your includible compensation (as defined by the Program and the Internal Revenue Code), whichever is less.

The additional age 50+ catch-up contribution is $6,500 in 2020, which means you can contribute up to a maximum of $26,000 to the WDC if you are age 50 or older during the 2020 calendar year.

WDC maximum contribution limits are independent of contributions made to 403(b) or 401(k) plans, as well as traditional IRAs. Therefore, a participant may contribute up to the limit in each plan. Participants are responsible for monitoring their annual contribution limits and reducing payroll deductions when they reach federal maximum limits.

Beginning in July 2011, participants have the option of contributing before-tax dollars OR after-tax dollars under the WDC Roth.

Investing in a 403(b)or 457 plan can be complex. When you meet with a TSA or Deferred Compensation provider, you should ask about: 

• Types of investment options.

• Minimum contribution requirements.

• Transfer of money between investment options.

• Fees, including withdrawal, transfer, sales (load), surrender, mutuality changes, etc.

• Expenses (e.g., annual account maintenance, annual fund expenses)

• Catch-up provisions

• Risk tolerance

• Early withdrawal penalties

• Ability to change investment strategy at a later time.

• Track record of investments you are considering.

Most importantly, take the time to read any material you receive and make sure you have done your homework before you invest. The District assumes no liability for risks associated with investment choices of individual staff members.

At this time there is no employee match on either the 403(b) or 457 plans.

403(B) Plan

VOYA
Fern Shackelford
Mayfair Woods at Research Park
10700 West Research Drive, Suite 190
Milwaukee, WI 53226
630-245-4056
Fern.Shackelford@Voya.com 

WEA
Sharon Schmidt
WEA Trust Member Benefits
PO Box 7893
Madison, WI 53707-7893
800-279-4010 ext. 1691

457 Plan

WI Deferred Compensation Program
Joseph Herron
5325 Wall St Ste. 2755
Madison, WI 53718
877-457-9327
https://wisconsin.gwrs.com/login.do

403(b) Salary Reduction Agreement

457 Salary Reduction Agreement