All employees are eligible to participate in the 403(b) retirement plan sponsored by the Mercer Island School District and administered by Bay Bridge Administrators. A 403(b) plan allows employees to save for retirement by deducting a portion of their current year’s compensation as a pre-tax or after-tax (Roth) contribution. The IRS regulates the amount you may set aside each year. You select how you want your contributions invested from among the options available under each participating provider’s product. Enrollment and changes may be made at any time during the year. Participation in the 403(b) plan is voluntary.
There are no District contributions to this plan.
How to enroll in the plan:
- Determine which company you would like to invest your contributions with.
- Review the list of approved vendors. You will also need to determine if you want to open a pre-tax account or after-tax (ROTH), or both!
- Contact the vendor directly to obtain and submit all necessary paperwork to open the account(s).
- Decide how much you want to invest from your monthly paycheck, fill out the salary reduction agreement and fax it to Bay Bridge Administrators at 1-800-961-6240.
For more information, call 800-953-6260, or visit https://www.bbadmin.com/retirement/.