A section of the Internal Revenue Code provides for a Voluntary Tax Deferred Retirement Program. Participation is limited by law to employees of public educational organizations and certain nonprofit organizations. Round Rock ISD employees are eligible to participate in a 403(b), 457(b), and/or a Roth plan.
The contributions to a Deferred Compensation Plan are made for the participating employee by his/her employer. The money that is contributed comes from employee contributions, called elective deferrals or Roth contributions. The elective deferral is deducted from the participant’s gross pay and forwarded to the third party administrator who forwards to the Provider (insurance company or mutual fund custodian) which is selected by the participating employee. The participating employee signs a salary reduction agreement, giving the employer the authority to make the payroll deduction and remits the monies to the third party administrator.
Participation in the District’s Deferred Compensation Plan is voluntary and should be based on your financial objectives and resources. Individual investment strategies should reflect your personal savings goals and tolerance for financial risk. You may want to consult a tax advisor or financial planner before enrolling. Your Employer and OMNI/TSACG are not liable for any loss that may result from your investment decisions.
Why Consider Setting up a Deferred Compensation Plan
Two main reasons for participating in a Deferred Compensation Plan are:
1) reducing your current tax expense, and
2) building a retirement pool with tax deferred compounding.
The Teacher Retirement System will provide generous benefits. However, chances are that your retirement plan will not provide enough income after retirement to enable you to maintain your standard of living. A Deferred Compensation Plan allows you to accumulate a retirement nest egg on a tax-favored basis.
Combined tax breaks of a Deferred Compensation Plan with tax free accumulation and compounded interest, permits large sums of money to be accumulated over a period of years. An intelligently planned and funded Deferred Compensation Plan, together with teacher retirement, can afford you a solid retirement.
Selecting an Investment Company
Employees who wish to enroll in the employer’s Supplemental 403(b) or 457(b) Retirement Plan must first select the provider and investment product best suited for their account.
Investment Provider Information
Current list of authorized investment providers.
Loan, Rollover, Exchange, or Distribution
- View Video Presentation on Retirement Plan Information
- Loan, Rollover, Exchange, or Distribution Request
- Enrollment, Changes, Cancellation Salary Reduction Agreement
As the Deferred Annuity Plan Administrator for ROUND ROCK ISD, OMNI/TSA Consulting Group, Inc. (TSACG), has developed an online record keeping system for you to use when requesting loans, rollovers, distributions, and contract exchanges from your account. This new system is known as the ART System (Aggregated Records & Transactions) and will expedite the time required to process your requests. Use the ART system to obtain a transaction approval certificate instantly. More details are provided below.
If you are planning to request a loan, rollover, exchange, or distribution from one or more of your OMNI/TSACG accounts you will need to establish an ART username and password.
To establish your initial ART System login, follow Steps 1 through 4 below:
STEP 1: Visit the secure Plan Transaction Website and enter your Social Security Number (SSN) as your initial “User ID”
Example: 123456789 – no dashes
Enter your date of birth as your initial “Password”
Example: 06241970 – no dashes – you must use a leading zero when entering one digit months and/or days (mmddyyyy).
STEP 2: Enter answers to the two security questions asked
You may be required to provide these answers in the future, so please be sure you can remember them or record your answers in a safe place.
STEP 3: Follow the on-screen instructions to change your initial username and password from your SSN and birth date to a unique username and password that no one else can guess guess or identify.
STEP 4: Proceed to the “Personal Profile” tab at the top of the screen and enter your email address. By providing an email address, you will be able to receive system notifications.
Upon completion of Steps 1 through 4, please refer to the tabs located on the upper menu bar on the web page to view your account(s) summary information, initiate online transactions, or view online transaction history. You may click on “Help” for a complete guide to the ART System.
If you have entered and completed a transaction, upon approval, ART will generate an Approval Certificate that you are required to print, sign and send to the respective Investment Provider for execution of your transaction. However, before mailing this certificate, verify with your Investment Provider what additional signed documentation they may require you to send along with your signed Approval Certificate.
If you have any questions regarding the ART System, please call OMNI/TSACG at 1 (888) 796-3786 and ask for ART assistance.
Contact Information
Administered by OMNI/TSA Consulting Group Inc.
Overnight Address:
Participant Services
73 Elgin Pkwy NE, Suite 302
Fort Walton Beach, FL 32548
Phone: 1-888-796-3786
Option 3 or Ext 526
Fax: 1-866-908-7582
Mailing Address:
Participant Services
P.O. Box 4037
Fort Walton Beach, FL 32549-4037