Suffolk Public Schools offer a wide variety of tax-deferred annuity 403(b) and 457(b) plans. Annuities are a great way to save for your retirement days!
Annuity Plans are available to all employees, including part-time and substitute employees. Suffolk Public Schools offers both IRS Section 403(b) and Section 457(b) deferred compensation plans to all of its employees, including part-time and substitute employees. These plans allow the employee to defer compensaton (maximum amounts apply) on a per pay basis, saving current taxes and providing the employee with additional retirement income.
Link here for more information on how to participate in the plan, as well as illustrations on the benefits of contributing.
Available companies are listed below and may be selected by any employee for salary deferral via payroll deduction. The selected company representative will help you with your individual plan. Call Ty Carr in the Payroll Office at 925-6754 for more information or call any of the company representatives.
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The following is a list of approved companies with the representative and phone number that you may contact to enroll or make changes in a voluntary payroll deduction:
- E Kaye Weaver (757) 562-0936
- Jacques Cureton (757) 447-7211
- Peter Olenick (757) 447-7211
- Roland “Raleigh” Martin (888) 316-9771
- Wardell M Nottingham (757) 461-7455
- Matthew J. Hedley (757) 777-3178
- Andre Dawkins (757) 644-3272
- Brooke Larson (757) 312-0620
- Vickie Pulley (757) 619-5819
- Time Hewitt (757) 650-1319
Suffolk Public Schools has contracted with “The OMNI Group” to administer our 403(b) Retirement Plan in compliance with new IRS guidelines. Under our agreement, it is OMNI’s responsibility to ensure that the district, its employee participants, and each of our providers adhere to all of the many compliance regulations of the IRS. As part of the process of assuring compliance with IRS regulations, OMNI has standardized our tax sheltered annuity forms. Interested employees must complete and sign the new OMNI Salary Reduction Agreement (SRA) and submit it directly to OMNI. IRS regulations will not permit OMNI to process your payroll deduction without a completed form. Forms must be submitted by any paydate to be effective the following paydate. All employees are also eligible to participate in the IRS 457 deferred compensation plan. New participants in the 403(b) or 457 plans may contact Ty Carr in the Finance Department for further details at email@example.com or by phone at 925-6756.