Employees of Concord Public Schools and Concord-Carlisle Regional School District can make pre-tax elective deferrals from their salary to the 403(b) Plan. If the Plan allows, these deferrals can also be designated as after-tax Roth contributions.

To contribute to the Plan, submit a Salary Reduction Agreement to the Plan’s Third Party Administrator, MidAmerica Administrative & Retirement Solutions, Inc. You can make, change, or stop contributions as often as you wish. The changes will take effect on the date indicated on the Salary Reduction Agreement or the next payroll date after approval by MidAmerica.

Please note that contributions are subject to Internal Revenue Code limits and the terms of the Plan. Contributions may be suspended for six months following a financial hardship withdrawal.

You can submit a Salary Reduction Agreement via the 403(b)/457 Participant Website. Follow the step-by-step instructions provided on the website (Salary Reduction Agreement information starts on page 6).

If you are a new participant, you may need to submit a hardcopy Salary Reduction Agreement for your initial election. For a copy of the Salary Reduction Agreement or a summary of the Plan, or if you have any questions, please contact MidAmerica Administrative & Retirement Solutions, Inc. at 866-873-4240 or visit their website.

This notice provides general information about the Plan. Consult with your financial, tax, or legal advisor to determine if contributing to the Plan is right for you. In case of any discrepancy between this notice and the Plan, the terms of the Plan will prevail. This information is not intended to be used for avoiding penalties under the Internal Revenue Code or for promoting, marketing, or recommending any transaction or matter addressed herein.

For more information on 403(b) tax-deferred savings, click here.