403b and 457b Plan Approvals and Service Requests

  • Effective October 1, 2021: Greene County School System contracts with 403b Partners as a third-party administrator for our 403(b) and 457(b) Plans. This permits greater attention to our participants, faster turnarounds for plan approvals, and the addition of new plan services. Below is a “How To” guide on connecting with their service team.


    403(b) PLAN AND 457(b) DEFERRED COMPENSATION PLAN(s) 

    The 403(b) and 457(b) Plans are valuable retirement savings options. This notice provides a brief explanation of the provisions, policies and rules that govern the 403(b) and 457(b) Plans offered. 

    Plan administrative services are provided by 403b Partners. You can visit their website at www.403bpartners.com for information on enrolling, making plan transactions, information on our plan vendors, and more. 

    ELIGIBILITY: All employees working more than 20 hours per week are eligible to participate in the 403(b) and 457(b) plans immediately upon employment. Eligible employees may make voluntary elective deferrals to both the 403(b) and 457(b) plans, and participants are fully vested in their contributions. 

    CONTRIBUTIONS: Upon enrollment, participants designate a portion of their salary that they wish to contribute to their traditional 403(b) and/or 457(b) account(s) up to their maximum annual contribution amount on a pre-tax basis or ROTH after-tax basis. 

    Contributions to the participant's 403(b) or 457(b) accounts are made from income paid through the employer's payroll system. Taxes on contributions and any earnings are deferred until the participant withdraws their funds. 

    Maximum contributions for 2023: $22,500 for both the 403b and 457 plans. Employees can contribute to both plans, so a grand total of $45,000 is available for contributions. 

    Age 50 Catch-up: For those employees over the age of 50, an additional $7,500 per plan is available for contributions. 

    Please keep in mind the grand total of all retirement plan contributions cannot exceed 100% of your compensation or $66,000. 

    For additional information, please contact the Board office at 706-453-7688. 


    Employee and Advisor Transaction Approval Process

    Option #1 (Preferred Method) - Online and/or Mobile Form

    1. Go to www.403bpartners.com
    2. Select Transaction Request or Salary Reduction-SRA
    3. Select your Employer (Greene County School District (GA))
    4. Use the online form to request New SRA enrollments, changes, or any TPA transaction requiring authorization or approval (loans, hardships withdrawals, etc.)
      • No additional paperwork is needed for Salary Reduction Agreements (new enrollments, changes, etc.). If you have a vendor form, you can attach it. Please make sure to have an account established with your vendor.
      • You will need your vendor paperwork for Plan Transactions. Contact your vendor directly for the appropriate forms.
      • Make sure to upload a copy or picture of your vendor paperwork, then submit.
      • You will receive a confirmation email when complete. If you do not receive a confirmation email, we did not get it! Make sure the email is correct.
    5. Processing Steps once we receive your request(s)
      • For Salary Reduction Agreements:
        403b Partners will forward your SRA plan request to your HR/Payroll department for processing. Make sure to have an account with the vendor you choose, otherwise contribution processing will be delayed.
      • For Plan transactions:
        • 403b Partners (the plan administrator) will review your request and verify it prior to authorization.
        • Once approved, we will forward approval certificate and all relevant documents to the Investment Provider for final processing. A second confirmation email will be sent once all information is approved and submitted to your investment provider.
        • Please contact your financial company directly regarding the status of your request once you receive this second email. If we need additional information, we will contact you.

    Option #2 - Manual remittance of paper forms

    • Salary Reduction Agreements
      1. Complete our standard SRA Agreement (available online or we can send via fax/email to you). *Some vendors have their own SRA Agreement. We will accept these as well.
      2. Complete your vendor paperwork.
      3. Send to 403b Partners using your preferred method:
        • Email: EmployeePlanService@outlook.com
        • Fax#: 770-799-8313
        • Physical Address:
             403b Partners
             5290 Matt Hwy, Ste# 165
             Cumming, GA 30028
             Phone#: 770-799-8002
    • Plan Transactions
      1. Speak to your vendor to obtain the appropriate forms.
      2. Complete your vendor paperwork.
      3. Send to 403b Partners using your preferred method:

     

    Once we receive your SRA or Transaction paperwork, we will use the online system to enter your requests. A confirmation email will be sent to you when completed.


    Contact Information:
    403B Partners

    5290 Matt Hwy, Ste# 165
    Cumming, GA 30028

    Phone#: 770-799-8002 | Fax#: 770-799-8313
    Email: EmployeePlanService@outlook.com
    Website: www.403bpartners.com

     

    October 4, 2021