getacro.gif (712 bytes)403(b) Annuity

New TRS Update Regarding 403(b) Registration Requirements
TRS has received many inquires from districts asking what they must do to comply with the changes, effective January 1, 2008, to the state law regarding registration of 403(b) products.  TRS is providing the following information to assist districts in complying with the new requirements.


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403(b)
The 403(b) is a plan allowed by the IRS to set aside money on a pre-tax basis for retirement purpose ...

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Tax-Sheltered Annuity Program

  1. General Information

  2. Salary Reduction Agreement 

  3. Tax Sheltered Annuities Handbook

  4. IRS 403 New Regulations01-05-09

  5. Letter to Terminating Participants01-05-09

Instructions on how to use your 403(b) Annuity

Authorized Providers Providers authorized under the plan document
Transaction Authorization Form This form is used for exchanges, hardship withdrawals, loans, distributions, and rollovers on behalf of the employer
Instructions for Salary Reduction Agreement The following instructions explain how to initiate, change or redirect salary reduction contributions to your voluntary retirement plan(s)
Instructions for Exchanges & Rollovers The following instructions explain how to submit request for Exchanges, Transfers, and Rollovers.
Instructions for Loans The following instructions explain how to submit a loan request.
Instructions for Hardship Withdrawals The following instructions explain how to submit a hardship withdrawal request.
Instructions for Distributions The following instructions explain how to submit a hardship distribution request.

Links

TRS List of Approved Products
Employees can search for the names of the approved ISD vendors to see what products are available for them to choose from through those vendors.
http://oapi.trs.state.tx.us/FOTB/do/memberWebListSearchSetup

Contact Information

National Plan Administrators (403 (b) Annuity TPA)

  • Phone
    (800) 880-2776

  • Fax
    (512) 327-1027 - TSA (General)
    (512) 275-9397 - Salary Reduction Agreements (Stop Start or Amend Deductions)
    (512) 275-9394 - Transaction Authorization Forms (Loans, Transfers)

  • Mailing address
    National Plan Administrators, Inc.
    Attn: Client Services / TSA
    P.O. Box 161630
    Austin, Texas 78716

  • Physical address
    National Plan Administrators, Inc.
    Attn: Client Services / TSA
    1101 Capital of Texas Highway, S
    Building E, Suite 100
    Austin, Texas 78746

  • E-Mail
     TSA@NatlPlan.com
    Billing@NatlPlan.com

 

Notice regarding changes to 403(b) regulations.

Per the new 403(b) regulations from the Internal Revenue Service (IRS), all 90-24 transfers after September 24, 2007 need to be approved by the administrator of the District’s plan, National Plan Administrators. A 90-24 transfer is the IRS term for when you transfer your existing 403(b) account to another 403(b) account.

If National Plan Administrators is not notified of the transfer after September 24, 2007 in the event that the IRS audits you or the District, the plan could lose its tax-exempt status and you could possibly incur a tax penalty.

National Plan Administrators can be contacted at 800-880-2776.