New 403(b) Regulations
The IRS released Finalized 403(b) Regulations Monday, July 23, 2007. The regulations were released with an applicable date for tax years beginning after December 31, 2008. As of January 1, 2009 the list of eligible service providers will change as many providers have decided not to sign information sharing agreements with our Third Party Administrator Omni Financial Group. We are currently working closely with Omni to determine what this will mean for employees with payroll deduction to companies that will no longer participate.
More information will be available in the coming months and updates can be obtained on the Omni website.
Please check back often for a listing of companies that you are participating in Massena Central School District's investment plan.
Employee Retirement System
Chief Payroll Clerk