What happens to the previous selection of retirement investment providers/vendors?

All participants in the legacy District-sponsored 403(b) and 457 plans who were actively contributing to their accounts as of June 30, 2013 may continue to do so at their discretion, and all five approved investment providers under that plan will continue to provide service to their participants (AXA, Security Benefit, Thrivent, VALIC, and Waddell & Reed).

  • Contribution amounts may be increased, decreased, or stopped at any time (changes received by payroll after the 10th of the month will be effective the following month.)
  • Once a contribution is stopped under the old plan, it may not be resumed.

The legacy District-sponsored 403(b) or 457 plans will no longer accept new participants, providers, contracts, or salary reduction agreement “adds.”


Category: Plan Revision Frequently Asked Questions

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