1. Bartholomew Consolidated Schools
403(B) Plan
401(A) Plan
VEBA
HSA
2017

5. 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

9. 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

10. 403(B) No hardship withdrawals No loans No catchup deferrals
Blank salary reduction agreement on BCSC website; reps will have copies

11. 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)

12. 403(B) Investment Choices
VALIC
Annuities (29 choices)
No Account Fee
% Mortality Fee
No Surrender Fee (except fixed fund)
Mutual Funds (Internet Only) (90 choices)
$40 Account Fee + expense ratio of fund(s)

13. 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

14. 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

15. 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

18. BARTHOLOMEW CONSOLIDATED SCHOOLS
403(B) VENDORS
REPRESENTATIVE
ANNUITY VENDOR
FIRST NAME
LAST NAME
REPRESENTATIVE FIRM
PHONE #
-WEBSITE
METLIFE
Lottie
Barcus
Metlife
VALIC
Gary
Bridwell
ext
Stephanie
Bunday
ext
Nate
Richardson
ext
ASPIRE
Rick
Colglazier
CFD Investments
Ryan
Burchfield
Edward Jones
Lisa
Duke
Ken
Free
John
Hayden
Bob
Lewis
Andy
Mann
Jim
Ostermueller
Eric
Robbins
David
Weiss
Mike
Engelstad
Engelstad Wealth Advisors
Jodi
Warren
Ward
Warren Ward Assoc
Philip
Blum
WestPoint Financial Group, LLC
Jack
Hettiger
Jacob
Martin
Gabriel
Thomas
Alpha Financial Services
As of:
4/3/2017

19. 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

23. 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: $3,400 for 2017
Family: $6,750 for 2017
Individuals age 55 and over may make an additional “catch up” contribution of up to $1,000.

24. Questions?????