MCC Daily Tribune Archive

Open Enrollment for Supplemental Retirement Accounts (403b's) is in November


 It’s open enrollment time during the month of November 2013 for Supplemental Retirement Accounts (403b’s).  A Supplemental Retirement Account is a pre-tax retirement savings program. This type of account allows you to defer paying federal taxes on savings you set aside from your paycheck until you withdraw it after retirement. Please read the attached document for further information on 403(b) supplemental retirement accounts. We also offer New York State 457(b) Deferred Compensation Plans which have the same benefits. Please contact Karen Rheinheimer in the HR Office for further information about 457(b) plans.

If you have an existing Supplemental Retirement Account (403b), your annual goal amount from 2013 will roll over into 2014, UNLESS your annual goal was over $17,500 in 2013. If your annual goal was over $17,500 in 2013, you must complete a new form for 2014. 

If you want to make any changes to your annual goal amount, you must complete a new form. This is especially important for those who made adjustments to their goal amounts in the middle of this year or who started a new plan after the beginning of 2013. You will need to adjust your goal amount to reflect a full year of deductions.

Enrollment Forms are now available for Supplemental Retirement Accounts (both the 403b and NYS Deferred Comp Plans) through the attached links, on line in HR Forms, and in the Human Resources Office. All forms are due back to Human Resources no later than November 30, 2013.

 

Please feel free to call the HR Office at 292-2048 with questions.

The Human Resources Team
Human Resources
10/30/2013


Attachments:
icon Salary Reduction Agreement 2014.pdf
icon NYS Deferred Comp SRA 2014.pdf