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. They can be reached at:
Phone #: 1 (800) 343-0860
VOYA (formerly ING) also offers a 403(b) plan. Capital Street Financial Services is our VOYA provider. They can be reached at:
Phone #: (651) 665-4300
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
To set up a new TSA account and start payroll deductions:
- Complete the account application for the investment company you choose. This application should be returned TO THE INVESTMENT COMPANY.
- 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.
- 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:
- For FIDELITY OR VOYA, complete a new Salary Reduction Agreement form and send to Payroll to modify payroll deductions, and match amount if eligible.
- 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.