At its meeting of September 13, 2004 the Board of Trustees
approved a deferred compensation plan under Section 457 of the Internal
Revenue Code. The new 457 plan will complement the current 403(b) plan.
The District has chosen AIG-VALIC and Tax Deferred Services (TDS) to provide 457 retirement plan products to the employees.
The 457 Program would allow employees to defer $15,500.00
for the calendar year 2007 in addition to the $15,500.00 permitted
under the 403(b) plan for a combined maximum of $31,000.00 for year
2007 (with amounts scheduled to increase annually). In addition, there
are age-based and retirement catch-up contributions, if qualified. For
detailed information on 457 plan, click What is a 457?
For additional details, you may contact Payroll Technician Hong Nguyen at extension 6263 or nguyenhong@fhda.edu.
* What is a 403b?
* ROTH 403B New
* Roth 403 b Q & A
*403b and 457 Plans Power Point Presentation by AIG/VALIC Foothill DeAnza 5 07 Aig Valic.ppt
*PERS and STRS Power Point Presentation by TDS 2007 Foothill DeAnza TDS.ppt
* What is a 457?
* List of qualified vendors for 403(b), Roth 403 (b) and 457
* Other Links:
* http://www.irs.gov/pub/irs-pdf/p571.pdf -
IRS Publication 571 - Tax Sheltered Annyuity Programs for Employees of
Public Schools and Certain Tax Exempt Organizations.
* http://www.irs.gov/pub/irs-pdf/p575.pdf - IRS Publication 575 - Pension and Annuity Income
* http://www.irs.gov/pub/irs-pdf/p590.pdf - IRS Publication 590 - Individual Retirement Arrangements
* http://www.irs.gov/retirement/article/0,,id=111442,00.html - IRC 403(b)/457 Plans
* Calendar of Events
- Vendors on campus
- Annual review date - October
