How does this affect me?

If you do not currently participate in an optional retirement savings plan with St. Vrain:
  • As a benefit to employees, the District participates in the optional PERAPlus 401(k) and 457(b) retirement savings plans.  You are encouraged to consider supplementing your expected PERA retirement income by saving additional amounts from each paycheck.  If you sign up for PERAPlus, the Payroll office will deduct an amount you designate from your paycheck (on a pre-tax basis) and remit it to your PERAPlus account each month.  Your savings account will grow to provide you with supplemental savings that you can access once you retire.
  • You may set up a new PERAPlus 401(k) and/or 457(b) account and contribute to either or both of these plans simultaneously.
    • If you wish to sign up for either of these plans, please click here to view instructions on how to do so.
If you currently participate in the PERAPlus 401(k) plan, but not the District’s 403(b) or 457 plans:
  • You do not need to do anything with regard to your PERAPlus 401(k) plan — any payroll deductions in place will continue.
  • The District now offers participation in the PERAPlus 457(b) plan.  If you have reached your maximum annual contribution limits for PERAPlus but want to save more, you should consider signing up for the 457(b) plan, as it does not share the contribution limit with the 401(k) plan.  Click here for current contribution limits.
If you contributed to a District-sponsored 403(b) or 457 retirement account through a payroll deduction as of June 30, 2013:
  • You may continue contributing to that provider, if desired
    • You may increase, decrease, or stop your contributions with that provider at any time
      • If you stop contributing to that provider for any reason, you may not resume contributions to that provider
  • You may not roll over your account balance from your old provider into the PERAPlus plans unless a triggering event occurs.
  • You may set up a new PERAPlus 401(k) and/or 457(b) account and contribute to either or both of those plans in addition to or instead of your contributions with your previous provider


Category: Plan Revision Frequently Asked Questions


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