403(b) / 457 Administration

403(b) / 457 Administration

FTJ provides comprehensive administration and compliance services for Section 403(b) and Section 457 plans, providing eligible employers with a hassle-free means of offering these valuable pre-tax investment benefits to their employees.

FTJ provides the plan documents and information sharing agreements. We also educate participants and ensure compliance ... allowing you to focus on other matters.

If you would like information regarding 403(b) and/or 457 plan information please call
(888) 385-4338.

Following is an overview of the administration and compliance services FTJ provides.

Required Agreements

To execute transfers, investment companies must sign Information Sharing Agreements with school districts. Information that must be shared includes: participant's employment status; other 403(b) contracts the participant has; other qualified plans available for rollovers; and records related to withdrawals which determine the participant's tax status (hardship withdrawals, loans, taxable distributions, etc). Plan services include the drafting of these agreements written to meet requirements and protect the school district.

Forms & Correspondence

There is no need to worry about drafting forms and other necessary correspondence required to conduct Plan business. FTJ provides these for your convenience.

Transfers/Exchanges

Our Plan allows both exchanges within the same plan and transfers from one plan to another plan.

Compliance is Ensured

There is no substitute for the peace of mind that comes with knowing your plan is fully compliant with all IRS regulations, even as they evolve. So we promise in writing to keep you informed of all compliance issues.

Coordination Among Companies

Some school districts offer investment options from more than one company within their plans, thereby allowing more choices for plan participants. The coordination of account management activities when more than one investment company is involved is included in the services we offer. In fact, we'll provide notification of compliance issues that can arise from such arrangements.

Annual Reviews

The FTJ Plan includes an annual review of contributions, loans, hardship withdrawals and distributions. Contribution amounts are reviewed to ensure that rules surrounding contribution limits are being followed and the non-taxable status of the funds is being maintained. Loans, hardship withdrawals and distributions are reviewed annually to ensure compliance with tax laws.

Education for Plan Participants

The management of one's own retirement fund is one of the most important tasks people face. Plan participants can rely on knowledgeable experts to help guide them in determining the right choices for their particular situation in life and in consideration of their own personal risk tolerance.

Contribution Collection & Disbursement

The Plan provides for the collection of employee salary reduction contributions and their on-time disbursement to investment companies.

Technology

FTJ uses the latest technology:

  • Participants may enroll electronically for their convenience.
  • School districts are provided digital data for easy downloading of participant information.
  • School districts can log on to view their account 24/7.

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