OPTIONAL 403(b)/457(b) RETIREMENT PLAN INFORMATION

  • As an employee of MCPS

    You have the opportunity to save for your future in a 403(b) or 457(b) tax-deferred retirement savings plan.  You may also elect to save through a Roth 403(b) or Roth 457(b), an after-tax retirement savings plan.  The plans are optional retirement plans designed to assist you in meeting your retirement goals.  Contributions are made solely via employee payroll withholding.  Employer contributions or matching funds are not available.

    Am I eligible to participate?

    All employees are eligible to participate.  There are no exclusions.

    OMNI-Third Party Service Provider

    U.S. OMNI is our 403(b) & 457(b) Third Party Plan Administrator (TPA).  U.S. OMNI provides TPA services to school districts throughout the country. 

    To learn about 403(b) & 457(b) plans, click on the following links:

    To find out more about setting up a 403(b)/457(b) account and to determine the best option for you, go the OMNI MCPS plan page to view the current list of investment providers.  First, select a provider to setup a 403(b) or 457(b) account.  Once your account is established with one of the MCPS participating investment providers, you will work with OMNI to complete an OMNI Salary Reduction Agreement (SRA) to initiate your investment. 

    Once you have an established 403/457 account, staff, former staff and retirees initiate changes, rollovers, withdrawals, and loans directly from the OMNI MCPS plan page, or by calling the OMNI call center for assistance.  All 403(b)/457(b) paperwork is coordinated through your provider and/or OMNI.  MCPS administration no longer signs/approves 403/457 paperwork.

    Contact OMNI:

     

    OMNI Helpful Documents and Newsletters

    If you require additional assistance, contact the Business Office at business@mcpsmt.org or 728-2400, ext. 3021.