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In accordance with the professional agreements between the Board of Directors of the Tacoma School District and each of the collective bargaining groups, employees of the District are hereby notified that the companies with whom TSA's and Deferred Compensation Payroll deductions are authorized are listed below.
Beginning June 1, 2014, OMNI became the district's Third Party Administrator (TPA) responsible for remittance of contributions, testing contribution limits, and providing a compliance umbrella that ensures hardship withdrawals and transfers are made correctly. As the Plan model unfolded, some low-cost mutual fund investment vendors were dropped from the Plan. Consequently, district administrators investigated creative options that would allow district employees to continue contributions to these low-cost mutual fund products. Based on referrals from other Washington school districts and significant due diligence, the district adopted two distinct 403(b) Plans as follows:
The OMNI Group Plan operates with individual vendors while performing the record keeping responsibilities as well as remitting and compiance duties.
The Selected Vendors Plan will be administered by Carruth Compliance Consulting, Inc. (CCC), an Oregon corporation with more than ten years of experience administering public school district 403(b) Plans. The Selected Vendors Plan was designed by CCC specifically to meet the needs of Tacoma Public Schools and provided three low-cost mutual fund options that are unavailable in the OMNI Group Plan. CCC assumes the record keeping and compliance responsibilities for all investment vendors under the Selected Vendors Plan.
Vendors for both plans are listed below.
NOTE: An account must be established with your chosen vendor prior to contacting OMNI. To access the OMNI system, access their website at https://www.omni403b.com. Select the Participants Tab in the upper middle part of the screen. You will then be taken to the Participants page. In the lower left hand corner labeled Employer Plan Info., enter EMP STATE = WA, EMP NAME = Tacoma School District #10 and then click on "Show Details".
Vendors under this plan include:
NOTE: The Payroll staff does not provide investment consulting services. Please contact an investment professional for financial advice.
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