2100 Panther Path, Point Pleasant, NJ 08742  |  (732) 701-1900  

Tax Shelter Plans

Pursuant to the agreement between the Point Pleasant Board of Education and the Point Pleasant Education Association, the Board offers an automatic payroll reduction service for 403(b) and 457(b) tax shelter plans upon written authorization of the employee. The Board does not endorse any plan, does not make any recommendations or guarantees concerning the financial stability of any plan or company and does not make any calculations or recommendations concerning the amount of salary to be deferred. Such calculations should be made individually for each employee involved in the program, and any questions should be referred to your tax consultant. Individual employees are responsible for choosing the company, the plan and securing the calculations for the maximum amount of salary reduction. If the employee chooses one of the companies listed then the employee can take advantage of the Board's automatic payroll reduction service.

Employees must complete a SALARY REDUCTION AGREEMENT with their provider of choice from the attached list. The provider is responsible for notifying the Payroll Department for the automatic payroll reduction service.

GUIDELINES FOR TAX SHELTER PARTICIPATION

1. ELIGIBILITY
All employees working twenty (20) or more hours per week are eligible to participate in a tax shelter plan with automatic payroll reduction.

2. CONTRIBUTION SCHEDULE
10-month employees - deducted over 10 months.
11 and 12-month employees - deducted over 12 months.

3. ELECTIVE DEFERRALS: 2015
      EGTRRA        $18,000
       Age 50+            6,000
                              $24,000
Related
      - Approved Provider List
      - 403(b)/457(b) Salary Reduction Contribution Eligibility Notification
      - Third Party Administrator Information

    *Completed forms should be submitted to Colleen DeStasi in the Business Office.


  Colleen DeStasi
  Payroll & Benefits Administrator
  2100 Panther Path
  Point Pleasant, NJ 08742
  (732) 701-1900 x. 2409
  cdestasi@pointpleasant.k12.nj.us


  Maura Macchi
  Personnel
  2100 Panther Path
  Point Pleasant, NJ 08742
  (732) 701-1900 x. 2412
  mmacchi@pointpleasant.k12.nj.us

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