Bartholomew Consolidated Schools 403(B) Plan 401(A) Plan VEBA HSA 2016

Two Brothers Ben Justin Graduated from college, started teaching, and got married at 22 Had 2 children within the next 8 years Wife stayed home after second child; went back to work after second child went to high school Justin Also graduated from college, started teaching, and got married at 22 Had 2 children within the next 3 years; wife stayed home When kids started KG, wife started career

All BCSC employees are eligible for 403(b) salary reduction. Deductions are taken out of 20 pays for non-contracted and non-year-round employees Deductions are taken out of 26 pays for contracted and year-round employees. All 3 vendors- Metlife, Valic, and Aspire- will have reps visiting the buildings after the start of school You can also call and schedule an appointment if you missed them

403(B) No hardship withdrawals No loans No catchup deferrals Blank salary reduction agreement on BCSC website; reps will have copies

403(B) Investment Choices METLIFE Annuities (57 choices) $30 Account Fee .50% Mortality Fee No Surrender Fee (except fixed fund) Mutual Funds (29 choices) .28% Account Fee + expense ratio of fund(s)

403(B) Investment Choices VALIC Annuities (29 choices) No Account Fee .75-1.25% Mortality Fee No Surrender Fee (except fixed fund) Mutual Funds (Internet Only) (90 choices) $40 Account Fee + expense ratio of fund(s)

403(B) Investment Choices ASPire (403b ASP) $40 Account Fee + .10% Management Fee + expense ratio of fund(s) 40 Mutual Funds through Edward Jones Option of Self-directing through 403(b) ASP (Internet Only) Thousands of mutual funds to choose from Apply on the Aspire website When account is set up, fill out a BCSC salary reduction agreement, sign, and send to Business Office No rep or broker to work with

ROLLOVERS, EXCHANGES, AND TRANSFERS Rollovers- monies from a previous employer 403(b) or similar plan; check was received Transfers- monies from a previous employer 403(b) or similar plan; directly sent to new 403(b) vendor (no cash or check involved) Check to see if there are any surrender charges from the vendor losing the funds All Permitted

401(A) BCSC matches up to 3% of your base salary Monies are sent to Metlife regardless of your 403(B) vendor An account will be set up with Metlife for the 401(A) match You invest the monies just like you would in your 403(B) 5 year vesting

VEBA BCSC BUYS YOUR UNUSED SICK DAYS OVER 180 FOR $43 PER DAY FUNDS CAN ONLY BE USED FOR HEALTH-RELATED EXPENDITURES WHEN YOU RETIRE

Health Savings Account (HSA) What are they? HSAs are tax-advantaged medical savings accounts available to taxpayers who are enrolled in an HSA-qualified high-deductible health plan. The funds contributed to the account are not subject to federal income tax at the time of deposit. Unused amounts in one year can be carried over to following years and added to subsequent contributions. HSA Contribution Limits: Individual: $3,350 for 2016 Family: $6,750 for 2016 Individuals age 55 and over may make an additional “catch up” contribution of up to $1,000 in 2014 and in 2015.

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