Section 125 - Tax Deferred Solutions (TDS)
Regular full-time, classified, management, and academic employees are eligible to set aside up to $2,500 annually through payroll deductions to pay for out-of-pocket medical expenses and up to $5,000 annually towards dependent child care. Contributions are on a pre-tax basis. The plan is administered by TDS. Enrollment must be renewed each year during open enrollment in mid April to mid May.
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ADDITIONAL RETIREMENT SAVINGS OPTIONS
The Plan permits all common law employees to be eligible for plan participation immediately upon employment, excluding students performing services for the District as well as employees who work less than 1000 hours per year via payroll deduction to a 403(b) plan chosen from the District's list of approved vendors. The District's approved vendor list is available at www.403bcompare.com. For 2013 the maximum pre-tax contribution is $17,500. The over 50 "catch-up" (if qualified) is $5,000. With 15 years of services an additional $3,000 may be withheld.
The District also offers 457(b) Deferred Compensation Plans offered by CalPERS and AIG to managment and academic employees only. Contact Human Resources for additional information, forms, and participation eligibility.