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Retirement Benefits & Savings Options

Pension Benefits

 
 
Public Employee's Retirement System (PERS) for classified, confidential and classified management staff. Employees working 20 hours or more per week belong to CalPERS and also contribute to Social Security. Some exceptions may apply. Employees working less than 20 hours per week are only eligible for Social Security.
 
Voluntary Retirement Savings Options

Employee participation in the current 403(b) and/or the 457(b) plans is on a voluntary basis and is employee-contributed. All eligible employees may participate in the plan(s).   We strongly recommend that you seek the input of a financial professional to select the proper investments to meet your retirement planning goals. 

Educational Plan Participation Guide on 403(b)/457(b) benefits 
Click on this link to see how these plans differ:  403(b) vs. 457(b): Which is better for you?

403(b)

A 403(b) plan is a tax-sheltered retirement savings plan. Eligible employees can contribute pre-tax dollars to their plan which are invested in either an annuity contract or custodial account (mutual fund).  Contributions will be allowed to grow tax free until the funds in question are withdrawn (usually at retirement, although it may be possible to access your funds prior to retirement in certain circumstances).  The District offers over 35 service providers to choose from:

Click here to see RJUHSD's approved service providers (vendors).  
Please note:  A 403(b) account must be opened with the service provider directly, prior to establishing payroll contributions.

The district’s 403(b) plans are administered by SchoolsFirst Plan Administration.  Contributions flow through SchoolsFirst to the chosen service provider. 

Plan Administrator:
SchoolsFirst Plan Administration
(800) 462-8328 Ext. 4727
SchoolsFirst 403(b) Salary Reduction Agreement
 

457(b)

A 457(b) is similar to a 403(b) plan, as both allow you to contribute pre-tax dollars.  Employees can actually contribute the maximum dollar amount to both 403(b) and 457(b) plans in the same year, effectively doubling their voluntary retirement contributions.  Our 457(b) plans are managed by the District and contributions are made directly to each provider.  We offer three providers currently, Corebridge Financial (formerly VALIC), CalSTRS Pension 2/VOYA and CalPERS 457/VOYA.  To find out more information on these plans, please contact the provider directly.

Plan Providers:

Corebridge Financial (formerly VALIC/AIG) 457(b)
Corebridge Financial SRA (coming soon)
Brian Bain
Investment Adviser Representative
2901 Douglas Blvd., Suite 150
Roseville, CA  95661
Phone:  1-800-892-5558 Ext. 89094
Cell:  916-261-4069
Email:  Brian.Bain@corebridgefinancial.com for information and application

CalSTRS Pension 2 (VOYA) 457(b)
Plan number 401847
888-394-2060
How does the Pension 2 plan work?  http://p2updates.com/  
To enroll online: https://calstrspension2.voya.com/eportal/welcome.do 
SchoolsFirst 457(b) Salary Reduction Agreement
 
CalPERS 457 Plan (VOYA)
Plan number 452650
Account Manager, Darren Wagerman
800-260-0659
CalPERS 457 Enrollment kit
CalPERS 457: Traditional vs. ROTH

ROTH Option:  If you are looking to reduce your taxable income during retirement, ROTH contributions may be an attractive option for you.  These plans permit you to contribute after-tax dollars and take the distributions tax-free.  Both the 403(b) and 457(b) plans offer ROTH options.  We have a select group of 403(b) providers, and both 457(b) providers offer a ROTH option.