CCCA-AP: Administrative 403b Plan

Annually, as it adopts a budget, the board will determine if funds are available to match contributions by administrators to qualified IRS 403b tax sheltered plan. The Board is not committing to making such funds available or promising that such funds will be available. However, it is the intent of the Board to annually evaluate the budget and, if it deems in its sole discretion that funds are available, it will provide moneys in the budget for matching contributions to a 403b plan. Such contributions will be to the extent of funds appropriated by the board in the budget and will be subject to the following:

1. Each administrator (1/2 time or more) will be eligible for a yearly matching contribution by the school district.
2. A provider must meet the test of nondiscrimination and of compliance with the Internal Revenue Code of 1986, as amended, or any successor code, all as outlined by the Internal Revenue Code Regulations.
3. In years 1 – 6, the school district will make a matching contribution of a maximum of $2,650.
4. In years 7 – 11, the school district will make a matching contribution of a maximum of $2,900.
5. In years 12 – 16, the school district will make a matching contribution of a maximum of $3,150.
6. In year 17 and all succeeding administrative years, the school district will make a matching contribution of a maximum of $3,650.
7. For the superintendent, the school district will make a matching contribution of twice the amounts indicated in paragraphs 4 – 7 and for the assistant superintendent, a matching contribution will be made of one and one-half times the amounts listed in paragraphs 4 – 7.

Adopted: 12/11/95

Reviewed:

Revised: 03/09/98, 10/12/98

11/24/03, 11/24/15

07/01/2021