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Inver Grove Heights Schools
INSPIRE. INNOVATE. EXCEL. A Community Commitment
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HOME
DISTRICT
About Us
Enroll
School Board
Departments
Intérprete
Resources
199 Replies
SCHOOLS
Early Learning
Hilltop Elementary
Pine Bend Elementary
Salem Hills Elementary
Atheneum Gifted Magnet Program
Inver Grove Heights Middle School
Simley High School
ACTIVITIES
Activities Website
Activity Fees
Activities Forms
Activity Schedule
Conference Sites
Registration
NEWS & EVENTS
Sign Up for Newsletters
District News
199 Reporter
District Calendar
Community Flyers
COMMUNITY
Community Education
Spartan Kids' Care
Get Involved
IGH BEST Foundation
Simley Yearbooks & Hall of Fame
Alumni
Facility Use
Community Flyers
CAREERS
Open Positions
ISD 199 Human Resources
CONTACT US
Early Learning Staff
Hilltop Staff
Pine Bend Staff
Salem Hills Staff
Atheneum Staff
IGH Middle School Staff
Simley Staff
District Staff
Community Education Staff
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Pension and Tax-Deferred Retirement Plans
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Benefits
Pension and Tax-Deferred Retirement Plans
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Pension and Tax-Deferred Retirement Plans
Inver Grove Heights Schools
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Pension and Tax-Deferred Retirement Plans
Public Employees Retirement Association (PERA)
PERA is a retirement plan for non-licensed public employees in Minnesota. Membership is automatic and mandatory for all non-temporary employees. PERA deductions are 6.25% of the employee’s gross salary and the District contributes at 7.25%. The contribution amounts are forwarded to PERA each payday and invested for you. If you have questions regarding your PERA balance, withdrawing funds, or changing beneficiaries, please contact PERA directly.
PERA
1(800)-652-9026
www.mnpera.org
Minnesota Teachers Retirement Association (TRA)
TRA is a retirement plan for teachers and other licensed administrators. Membership is automatic and mandatory for all licensed employees. TRA contributions are 7.5% of the employee’s eligible salary and the District contributes at 7.5%. The contribution amounts are forwarded to TRA each payday and are invested for you. If you have questions regarding your TRA balance, withdrawing funds, or changing beneficiaries, please contact TRA directly.
TRA
651-296-2409
www.minnesotatra.org
https://minnesotatra.org/resources/
Tax-Deferred Retirement Plans
General Information
A 403b is an optional tax-deferred retirement investment offered through the District to all employees. The term 403b refers to sections of the IRS Code which define the rules by which “pre-tax” investments may be made through payroll deduction. Pre-tax investing allows money to be deducted from your pay without current taxation. The result, depending on your W4 withholding rate, is that your investment will be larger than the amount by which your paycheck is reduced. In the long run, this may help maximize your retirement savings while minimizing the impact on your current take-home pay. Participation in a 403b supplements the mandatory defined-benefit pension plan (PERA or TRA) to which you already belong. Some employees are eligible for a district match to their 403b contributions. See your labor agreement or individual contract to determine if you qualify for a match.
All vendors offer the ability for the matching annuity.
Enrollment Instructions and Form
1. Contact the vendor of your choice to enroll and establish an account. Here's the
403(b) Approved Vendor List
2. Employee and agent representative signs the
403(b) Salary Reduction Agreement Form
3. Return form to Payroll Department
4. Questions, contact District Office Payroll Specialist at 651-306-7831