Making Life Easier for Employers
Security Benefit can guide you through budgetary control tools within the 403(b) tax code
403(b) Employer Matching Contribution Plan (PDF)
An Employer Matching Contribution Plan can help school districts more tightly administer their finances while giving employees more retirement-saving options. Much like a 401(k) plan, both the employer and employee contribute to the plan pre-tax, saving the district taxes, provides cost-savings from the salary schedule and contributes to employee retention. The school district completely controls the parameters of executing and funding a 403(b) Employer Matching Contribution Plan. For more information see the linked PDF above.
403(b) Special Pay Plan (PDF)
A 403(b) Special Pay Plan allows school districts to manage the costs associated with employees who leave the district with unused sick and vacation time to cash in, or employees who are eligible for an early-retirement option. A school district can designate money as an employer contribution for deposit to an employee's 403(b) account instead of contracting for payouts, helping the district avoid unforeseen expenses and taxes due on a payout. The plan also allows the employee to save tax-deferred. The school district has control on the design of the 403(b) Special Pay Plan. For more information see the linked PDF above.
Get started today by contacting your Security Benefit Internal Sales Consultant (PDF).