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403(b) Information


What Is Universal Availability/Meaningful Notice? 


2024 Meaningful Notice Memo for all 403(b) and 457(b) Eligible Employees Per Universal Availability requirements mandated by the IRS, we are required to inform you of your eligibility to participate in in the 403(b) and/or 457(b) retirement plans.


Generally, “Universal Availability” means that if an employer permits one employee to defer salary into a 403(b) plan, the employer must extend this offer to all employees, other than those whom the law allows to be excluded. Universal availability also requires the plan to give meaningful notice to employees of their right to make elective deferrals.


At any time throughout the year you can start, stop, or change elective deferrals. As an employee of Penn-Harris Madison School District, you may be eligible to participate in a 403(b) and/or 457(b) retirement plan.


The IRS created retirement savings plans for various groups to encourage retirement savings by offering tax benefits. Participation in these plans is voluntary and allows you to contribute pre-tax and/or after-tax dollars, taken directly from your paycheck and deposit these funds into a retirement account with an investment provider of your choice.


Click here for more information about payroll reduction enrollment.


Click here to download the Annual Retirement Benefits Guide.


Click here to download the Plan Participation Guide.


Click here to read the Meaningful Notice.