• Waterford Public Schools offers all eligible employees (including substitutes, coaches, and tutors) the opportunity to participate in a 403(b) Tax Sheltered Annuity (TSA) Retirement Plan.  A 403(b) TSA Plan is a tax-deferred retirement program made available to school system employees pursuant to Section 403(b) of the Internal Revenue Code of 1986, as amended (The “Code”).  The following investment vendors are approved providers for the Waterford Public School’s Plan:                                                                                                                  Ameriprise

    AXA Equitable

    First Investors
    VOYA (ING)


    TSA Trust (Lincoln Investment)




    Each approved vendor has information on its website about the products and services it offers.  It is recommended that you contact the provider’s representatives directly, or discuss your options with your financial advisor. 


    If you are not already enrolled in the plan and wish to do so, the following steps will help in the process:


    1)       Meet with the product provider’s representatives directly, or with a financial planner.

    2)       Select an investment provider from the approved provider list above.

    3)       Enroll in an approved provider plan.

    4)       Complete a Salary Reduction Agreement (SRA provided by the provider), and submit it to the Waterford Public School’s Business Office, Payroll Department to initiate your payroll deduction.


    This deduction will continue until you change it.  You may increase or decrease your contribution, stop your contribution, or change from one approved provider to another at any time.  You may also enroll in the plan at any time.


    The Code has limits on total contributions you may make in a year.  For 2017 the limit is $18,000.  The Code also has special catch-up elections; an additional $6,000 if you are age 50 or older, and an additional catch-up (maximum $3,000 per year up to five (5) years) if you have fifteen (15) years of service with Waterford Public Schools.  It is recommended that you work with your financial advisor or an approved provider’s representative regarding the fifteen (15) year catch-up limitations.


    Disclosure to employees:  The Waterford Public School system has no liability for the employee’s selection of product providers.  The Waterford Public School system does not warrant any special tax consequences to the employee.  The Waterford Public School system does not give tax, legal, or investment advice.  The Waterford Public School system recommends that employees seek the advice from professionals who specialize in these areas.