WISD 403(B) Plan Administered by The Standard
WISD 403(b) Plan Initial Enrollment
In order to satisfy the “universal availability” requirements for 403(b) plans, all new employee names and addresses are submitted to The Standard, and each new employee receives a mailing from The Standard advising them of the availability of the 403(b) plan to them, allowing them to defer a portion of their wages by depositing it into the 403(b) plan. The mailing includes instructions on how to set up an account.
If you no longer have that mailing and want to enroll in the Washtenaw ISD 403(b) plan with The Standard, please utilize the following documents to help you get enrolled:
Personal Savings Center and Plan Documents
The Personal Savings Center is the online portal to your 403(b) account. You can use the Personal Savings Center to perform various account and investment functions including accessing retirement planning tools, viewing your account balance, selecting or changing your investments, changing your beneficiary, etc. See the document below for more information (this is the same link as in the section above):
Personal Savings Center Account Registration
You can even request loans and distributions online! Please see the video below for more information:
Taking an Online Loan or Distribution from Your Retirement Plan
The Personal Savings Center also contains various plan documents such as the Plan Overview and Participation Notice and a Summary Plan Description. Other plan documents, including the 403(b) Plan Document, the Adoption Agreement, Investment Policy, Loan Program, and Fee Profile, are available on the WISD network under Groups/All Agency/Benefits/403B/Plan Documents.
The maximum contribution for 2015 calendar year is $18,000. If you are age 50 or older, you may contribute up to a total of $24,000.
Transferring or Rolling Over Funds to The Standard
If you have a 403(b) retirement plan account that you contributed to through WISD prior to December 31, 2008 that you want to transfer to The Standard, see Application for 403(b) Transfer. You will likely need to fill out this form and one from your previous account provider; however, some providers will accept The Standard’s Application for 403(b) Transfer form.
If you have another retirement plan from a former employer that you want to rollover to The Standard, look for the Roll Over Funds link in your Personal Savings Center.
Prior to transferring or rolling over funds, you need to pay particular attention to your contract for your current account. You will need to determine if your account is subject to surrender charges or other distribution fees. Once you work with your current vendor to determine what, if any, charges will be deducted from your balance prior to transferring it or rolling it over, you’ll need to decide if you want to proceed with the transaction.
Ongoing Plan Monitoring
Representatives from the Washtenaw ISD and Wayne RESA 403(b) Plan Consortium meet on a quarterly basis with representatives, including the investment advisor, from The Standard to review the consortium’s investment offerings and their performance and to attend to other administrative needs. The WISD Quarterly Monitoring Reports are available on the WISD network under Groups/All Agency/Benefits/403B/Quarterly Monitoring Reports.
Other Information
A representative from The Standard is also available to assist you between 10 am and 8 pm Eastern time at (800) 858-5420.