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Tax Sheltered Annuities


SchoolsFirst Federal Credit Union  is the District’s Third Party Administrator for your tax sheltered annuities. SchoolsFirst Federal Credit Union provides investment guidance, retirement education and plan compliance services. 


A Tax Sheltered Annuity (TSA) is a voluntary retirement plan option that allows employees to save for their retirement by investing payroll deducted contributions.    

  • 403(b) – Pre-tax contributions, taxes are paid on withdrawals which can begin at age 59 ½. Penalties may apply to withdrawals taken before this time.
     
  • Roth 403(b) – After-tax contributions, withdrawals can begin at age 59 ½ and are tax free if the account has been opened for at least 5 years. You may withdraw upon severance of employment, or in cases of hardship, disability or death; penalties may apply.
     
  • 457(b) – Pre-tax contributions; taxes are paid on withdrawals. Regardless of age, you may withdraw when you leave your employer, or in case of death, disability or unforeseeable emergency.  Supporting documentation is required and you may be subject to penalties. 

   List of Approved Vendors 

Use the following forms to:


Set up, Change, or Cancel Salary Deductions:

Other Types of Transactions:

       

Mail all Salary Reduction Agreement (SRA) forms to SchoolsFirst FCU directly at:
P.O. Box 11547, Santa Ana, CA 92711-1547