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.
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
Account Enrollment Application
Personal information change form
Incoming Xfer Rollover Form
Freedom Funds brochure
Back to TSA Overview
Q&A about TSA plans
403b plan regulations
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