ANNUAL NOTICE

This is to notify you that if you are an employee or substitute of Shasta County Office of Education you are eligible to make a voluntary contribution on a pretax basis from your salary to a 403(b), 457, or Roth 403(b) (after tax) retirement investment plan. A list of authorized vendors is included in this notice. SCOE currently has two 457 providers, CalPERS and Valic. We also have a Roth 403(b) plan provided by Valic. SCOE does not oversee vendor fees or policies and does not advocate for any vendor on the authorized list. By law the Shasta County Office of Education is required to be the plan administrator and provide a written plan which controls the information sharing that must go on between investment vendors, IRS and the employer. Compliance is monitored by MidAmerica Administration and Retirement Solutions.

To make an elective contribution to a plan, you must first complete a Salary Reduction Agreement and return it to Human Resource Services/Payroll. All forms and information can be accessed at http://www.spokeskids.com/ShastaCOE/. You may make, change, or stop an election to contribute as often as you wish. The election will be effective at the time indicated on the Salary Reduction Agreement or the next applicable payroll date after the reduction is approved by the Plan Administrator.

Such elective contributions are subject to applicable Internal Revenue Code limits and the terms of the Plan. Each vendor’s policy states whether or not there are hardship distributions or loan provisions. If a hardship distribution is given to an employee, that employee’s contributions to all voluntary plans will be suspended for 6 months. There are hardship distributions and loan provisions in the Keenan/MidAmerica/SCOE Sponsored 403(b), but they are limited. The Keenan/MidAmerica/SCOE Sponsored 403(b) is not a voluntary plan. If you have any other questions, please contact MidAmerica Administrative & Retirement Solutions, Inc. at (866) 873-4240 or visit their website at https://www.midamerica.biz/forms/partifipants/.

This Notice is to provide general information regarding availability of retirement options. You should consult with your own financial, tax, or legal advisor as to whether you should contribute to any financial product. Should there be any difference between the information in this Notice and the Plan, the terms of the Plan will control. The information in this Notice is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code or promoting, marketing or recommending to any transaction or matter addressed herein.

The following is a list of authorized 403(b) Investment Brokers for 403(b) Voluntary Plans. A current list is always accessible at http://www.spokeskids.com/ShastaCOE/:

American Fidelity Assur. / 800-654-8489 / American Funds / 800-421-0180
American Investors Life / 800-255-2405 / Americo Financial Life / 800-266-6565
Athene Annuity & Life / 888-284-8287 / AXA Equitable Life Ins. / 800-628-6673
Fiduciary Trust Int’l / 800-527-2020 / Voya ReliaStar Life Ins. / 800-884-5050
Lincoln National Life / 800-454-6265 / 457(b) CalPERS / 800-260-0659
Oppenheimer Funds / 888-470-0862 / Prudential Annuity Serv / 888-778-2888
Security Benefit Life / 800-888-2461 / Valic / 800-448-2542
TIAA CREF / 800-842-2776

Revised November 2016