403(b) Plan Tax Deferred Annuity

  • The 403(b) Plan is a voluntary (optional) supplemental retirement savings program offered under section 403(b) of the Internal Revenue Code and is called the Tax-Sheltered Annuity Plan ("TSA Plan").  

    The PPS 403(b) Plan is administered by Carruth Compliance Consulting (CCC).  PPS offers the following types of 403(b) Plans for you to contribute to:

    • Traditional (before-tax) 403(b) Plan; and
    • Roth (after-tax) 403(b) Plan, subject to vendor acceptance of such contributions.


    All contributions to the PPS 403(b) Plan are made by the employee.  The District
    does not contribute toward the 403(b) Plan and there is no Employer Match.


    Eligibility to Participate

    All employees are eligible to participate.

    IRS 403(b) Plan Contribution Limits for 2024

    • Elective Deferral Limit: $23,000*
    • Age 50 Catch-up: An additional $7,500.00, for a total of $30,500*
      (Applies to Employees Age 50 or over by 12/31/2024)
    • 403(b) Special 15 Years of Service Catch-up: Up to an additional $3,000**

    *Note: Contributions to the plan above cannot exceed employees’ total compensation.
    **Please contact CCC to verify eligibility and limits available under Special Catch-up.


    Enrollment & Changes During the Calendar Year

    To enroll or make changes online in PeopleSoft Employee Self-Service (ESS), follow the on the CCC website.

    • You may enroll in the PPS 403(b) Plan at any time, subject to payroll deadlines. 
    • You may start, stop, increase, or decrease your contributions to the PPS 403(b) Plan at any time, subject to payroll deadlines. 
  • 403(b) Terms & Conditions
  • Rollovers

    You may be able to rollover retirement account(s) from previous employers into your PPS 403(b) Plan.

    For more information on rollovers into the PPS 403(b) Plan, contact Carruth Compliance Consulting, the plan administrator for the PPS 403(b) Plan, at 503-968-8961 or by email at .


    Contact Carruth Compliance Consulting (CCC)

    CCC can provide you with additional information on the PPS 403(b) Plan and answer any 403(b) questions you have specific to your situation.

    Phone: 503-968-8961
    Email:  cccinfo@ncompliance.com 
    Website:  

    PeopleSoft ESS Login Issues

    If you experience any issues logging into PeopleSoft Employee Self-Service (ESS), on-site or off-site, please contact the PPS IT Service Desk at 503-916-3375.  

    403(b) Technical Issues in PeopleSoft ESS

    If you experience any technical issues enrolling or making changes to your 403(b) Plan contribution in PeopleSoft Employee Self-Service (ESS), please contact the PPS Benefits Team at benefits@pps.net.

  • Carruth Compliance Consulting

    Phone
    503-968-8961

    Email


    Website




Quicklinks

  • 403(b) Plan Presentation - March 2022
  • 403(b) Plan Presentation Slides - March 2022