Retirement Plans

Stamford Public Schools offers you the opportunity to participate in a 403(b) and/or 457 Tax Sheltered Annuity Retirement Plan. These Plans are established under Section 403(b) and 457 of the Internal Revenue Code and permit the savings of pre-tax dollars thus deferring taxes on these contributions until they are withdrawn. The 403(b) Plan operates according to the rules and provisions outlined in the 403(b) Plan Document.  Information about the 403(b)/457 plan can also be found here.

The 403(b) and 457 Plans are operated under the following procedures:

  • You must first establish an account with one of the approved investment providers. List of Approved Fund Providers.
  • Additions, changes and cancellations to your plan(s) can be made at any time by sending a properly completed Salary Reduction Agreement to the OMNI Group, our third party plan administrator. The change will be made on the next available paycheck. The OMNI Group can be reached at 1-877-544-OMNI.
  • 457 contributions are deducted from the First Paycheck of each month during the ten months of the school year for teachers, administrators, educational assistants and security staff. Contributions of classified employees are deducted from each weekly paycheck.
  • 403(b) contributions are deducted from the Second Paycheck of the month during the ten months of the school year for teachers, administrators, educational assistants and security staff. Contributions of classified employees are deducted from each weekly paycheck.
  • Get more information . . .

2018 Maximum Allowable Contribution Limits

  • Under 50: $18,500.00
  • 50 and Over: $24,500.00