Fidelity Investments 403b Plan

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Home > Employee Benefits > Retirement & TSA > TSA > Fidelity

Fidelity 403b plan overview

Fidelity is one of the district's two designated providers for a 403b plan. This plan allows eligible employees to supplement any existing retirement or pension plans. Contributions are made through pre-tax payroll deduction and may be eligible for a district match (if in collective bargaining agreement).

Fidelity Investments has been servicing the unique needs of the tax-exempt market since 1991. Fidelity provides retirement, treasury management, and
investment only services and products. As part of the larger Fidelity organization, the Tax-Exempt Market leverages the vast resources and experience and passes these benefits to its clients.

Investment Fund Options

The majority of funds offered to St Paul Public Schools employees are Fidelity Funds. There are a few funds that are non-Fidelity funds. Fidelity also offers the popular lifecycle or target date funds, which are called "Fidelity Freedom Funds". These allow you to select funds based on your anticipated (target) retirement date and let fund managers do the work for you.

Fees

Fidelity charges a $5 quarterly account maintenance fee ($20 per year).

Minimum and Maximum Contributions

The minimum contribution is $5 per pay period. The annual maximum contribution is determined by the IRS rules governing 403b plans. For 2010, the standard employee contribution maximum is $16,500 with an additional $5,000 for employees over age 50.

Steps to Participate

Contact Fidelity to request enrollment material (and/or speak with a representative).
Review the prospectus and custodial agreement provided by Fidelity.
Set up your Fidelity account by completing the account application and sending it to Fidelity.
Complete a district salary reduction agreement form and send it to the district business office. Once this form is received, payroll will begin the payroll deductions and send the contributions to Fidelity. (IMPORTANT - Your account must be set up at Fidelity before you send in the salary reduction agreement form to start payroll deductions.)

Contact Information