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403(b)
Plan Information for employees
The goal of TSA Consulting Group, Inc. (TSACG) is to efficiently facilitate
the process for you, the participant, as well as
your employer, the plan sponsor, and your
product provider. We have listed below the steps
for enrolling in the plan, as well as steps
required for approval of transactions that you
may wish to have processed.
Carefully reviewing this information and
submitting the correct, completed documentation
will help ensure that your request will be
processed as quickly as possible. If you
have questions while preparing documentation, a
TSACG representative can be reached at
1-888-796-3786. Information is also available on
our Web site. Please note that TSACG is not an
investment product provider and we cannot give
investment advice. For questions regarding your
investments, please contact your product
provider or financial advisor.
Participation in your 403(b)
retirement plan:
Getting Started
To enroll in your employer’s Supplemental
403(b) Retirement Plan, you must do four things:
1.
Select the company(s) you wish to
invest with, and
2. Establish
an account with that company
3. Complete
a “Salary Reduction Agreement” (SRA)
form, which authorizes your employer to withhold
the amount you elect to contribute to your
403(b) via payroll deduction. Your employer will
forward the contribution to the investment
company on your behalf.
4.
Return the completed SRA form and Product
Disclosure form (if required by your employer) to
TSACG prior to the cut-off date for
which you wish deduction to begin.
The
“Salary
Reduction Agreement” forms can be downloaded
from your employer's
specific Web page. A list of authorized
product providers and their contact information
can also be found on your
districts’ Web page.
Important:
You MUST establish an account
with your selected provider prior to the date
you begin the Salary Reduction.
If the account has not been properly
established, your contributions will be returned
to you and will be taxable. Verifying that
account has been established before submitting
the SRA will expedite the process and help to
avoid having funds returned to you.
Change(s) or
Stopping
A new Salary Reduction Form must also be
completed any time that you wish to:
- Change
your product provider
- Change
the allocation between providers
- Change
the amount of contribution
- Change
between contributing a dollar amount or
percentage of salary
- Stop
your deduction or restart your deduction
after a stop
- Designate
contributions as Roth (post-tax
contribution)
Remember
that all SRA forms must be submitted to TSACG by the cutoff date for the payroll
for which you wish the change to be effective.
403(b) Transaction
Processing
All transactions require a Transaction
Routing Request form. The Transfer Routing
Request Form provides important information
regarding your request and is vital to ensuring
proper processing.
Distributions
Distribution transactions may include any of the
following: loan, transfer/exchange, rollover,
hardship withdrawal or cash distributions. Each
product provider requires their own form to be
submitted. You may request distributions by
completing the necessary forms obtained from
your investment product provider, other
necessary documentation as indicated below and
submitting all completed documents to TSACG for
processing.
|
Transaction
Requested |
Forms
needed for Processing |
| Transfers
(Contract Exchanges)/Rollover, incoming
and outgoing |
Submit
complete provider paperwork for
transaction and the following form:
*Completed Transaction
Routing Request form
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| 403(b)
Hardship Withdrawals |
Submit
complete provider paperwork for
transaction and the following forms and/or
documentation:
*Completed Transaction
Routing Request form
*Completed Hardship
Withdrawal Disclosure form
*Evidence of expenses
equal or more than amount
requesting
Please note that evidence of
expenses MUST be provided for approval of
request
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| 457(b)
Unforeseen Emergency Withdrawals |
Submit
complete provider paperwork for
transaction and the following forms and/or
documentation:
*Completed Transaction
Routing Request form
*Completed 457
Unforeseen Emergency Disclosure form
*Evidence of expenses
equal or more than amount
requesting
Please note that evidence of
expenses MUST be provided for approval of
request
|
| 403(b)
and 457(b) Loan Withdrawals |
Submit
complete provider paperwork for
transaction and the following form:
*Completed Transaction
Routing Request form
|
| 403(b)
and 457(b) Cash Withdrawal (due to
qualifying event only) |
Submit
complete provider paperwork for
transaction and the following form:
*Completed Transaction
Routing Request form
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Note:
Once all paperwork in received by TSACG, the
processing time is
typically 1 to 3 business days, but
Rollover and Hardship Withdrawals
may take longer to process due to the
additional information required.
Important:
If your rollover or withdrawal request is due to
the qualifying
event
of separation from service your termination date
must be
verified
by your employer.
Including a copy of a termination
letter
from your employer that verifies the date and
will help to
expedite
your request. Failure to include this
information may
result
in delays in processing, as TSACG will have to
request
termination
date verification from the employer and await
response
in order to process your request.
Transfers
As of January 1, 2009, participants may only exchange
their accounts among the Authorized Investment Providers in
the employer’s 403(b) Plan.
After
verifying that the selected new provider is a
current authorized provider, you must complete
any forms required by the provider (usually
supplied by the new provider), as well as a
Transaction Routing Request form. All completed
forms should be submitted to TSACG for
processing.
Submitting
Transaction Requests
All transaction requests should be submitted to
TSACG for processing via fax or mail:
TSA
Consulting Group, Inc.
Attn: Participant Transaction Department
28 Ferry Rd. SE
Fort Walton Beach, FL 32548
Fax: 1-866-741-0645
TSACG
wants to assist you in the most efficient manner
possible. Carefully reviewing all documentation,
verifying that you have signed all necessary
forms, and verifying that you have included any
necessary evidence will help us to reach this
goal and avoid delays that are caused by
incomplete documentation.
Our customer service representatives are
available to assist you at 1-888-796-3786 or recordkeeping@tsacg.com
Participation in the 403(b) plan is
voluntary and should be based on your financial
objectives and resources. Individual investment
strategies should reflect your personal savings
goals and tolerance for financial risk. You may
want to consult a tax advisor or financial
planner before enrolling. Your Employer and
TSACG are not liable for any loss that may
result from your investment decisions.
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