TSA - Tax Sheltered Accounts (403b & 457)

  • If you decide to put aside additional money towards retirement, you have three companies to choose from. Your choices are:

    Fidelity offers a 403(b) plan. (Plan #51224) EFS Advisors assists employees with setting up a Fidelity account.  They can be reached at:  Phone #: (651) 767-1286  Email:  mattm@efsadvisors.com  

    Or you can connect with Fidelity directly at:
    Phone #:  1 (800) 343-0860
    Website:   www.mysavingsatwork.com

    VOYA (formerly ING) also offers a 403(b) plan. (Plan #666212) Capital Street Financial Services assists employees with setting up a VOYA account. They can be reached at:
    Phone #:  (651) 665-4300
    Website:  www.capitalstreet.biz

    MN Deferred Comp offers a 457 plan. They also offer the option for after-tax deductions into a Roth 457 account. Please note that while MNDCP’s forms ask you to indicate a percentage of pay or dollar amount that you wish to contribute, the District can only accept dollar amounts. MNDCP can be reached at:
    Phone #:  1-877-457-6466 or 651-284-7723  MNDCP General Information
    Website:  www.mndcplan.com

    Plan With Ease is not a provider, but a third party vendor SPPS works with to make it easier for retirees and former employees to manager their accounts,  request withdrawals, etc.   Information about Plan With Ease is listed on the menu at the right hand side of this page.  https://planwithease.beready2retire.com/ 

     

    To set up a new TSA account and start payroll deductions:

    1. Complete the account application for the investment company you choose. This application should be returned TO THE INVESTMENT COMPANY.
    2. IF YOU CHOSE FIDELITY OR VOYA, return the District’s Salary Reduction Agreement form to Payroll to start up the requested payroll deductions, and match amount if eligible. 
    3. IF YOU CHOSE MN DEFERRED COMP, they will send payroll a weekly report to let us know how much you wish to contribute. However, if you wish to participate in the District’s matching funds program, you will also need to complete the the District's separate match request form and send it to the payroll department. 

    To CHANGE contributions for an existing TSA account that has active payroll deductions:

    1. For FIDELITY OR VOYA, complete a new Salary Reduction Agreement form and send to Payroll to modify payroll deductions, and match amount if eligible. 
    2. For MN DEFERRED COMP, contact MNDCP to request the change.  They will send payrolla weekly report to let us know the new amount(s).  To request an employer match, complete the appropriate match request form and send it to the payroll department.  

    IMPORTANT: Eligibility for the District matching funds program is based on your collective bargaining agreement.  Refer to your union contract for information about eligibility and match amounts.

     

    To Request a distribution from your account(s), you can work directly with your investment provider, or through Plan With Ease.  Please note, other than qualifying hardship withdrawals or loans (where allowed), distributions can only be taken after separation of service from St Paul Public Schools.  403(b) and 457 plan savings are designed to help you set aside and invest money to be used when you retire.

     

    FAQ

    403(b) Plan Document

    457 Plan Document

    Severance Pay Plan  (Refer to the Benefits website for complete information related to retirement and severance)

     

     

     

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