PERSI Base Plan & PERSI Choice 401(k)

403(b) Tax-Sheltered Annuity (TSA) Plan

A 403(b) tax-sheltered annuity (or TSA) plan is a retirement plan sponsored by the Boise School District. Employees set aside pre-tax dollars in an individual account. Taxes are paid when the employee takes a withdrawal from the account. The Boise School District does not contribute to 403(b) plans.

Why Save With 403(b)?

• You do not pay income tax on contributions until you begin making withdrawals from the plan, usually after your retirement. 

• Investment gains in the plan are not taxed until distributed. 

All Boise School District employees are eligible to participate.

457(b) Deferred Compensation Plan

A 457(b) deferred compensation plan is a retirement savings account sponsored by the Boise School District. Employees set aside pre-tax dollars in an individual account. Taxes are paid when the employee takes a withdrawal from the account. The Boise School District does not contribute to 457(b) plans.

Why Save With 457(b)?

• You do not pay income tax on contributions until you begin making withdrawals from the plan, usually after your retirement. 

• Investment gains in the plan are not taxed until distributed. 

• Funds may be withdrawn before age 59½ penalty-free if the employee is no longer employed by the Boise School District. Income tax  will be owed on any withdrawals, but distributions are not generally subject to the 10% early withdrawal penalty except on amounts rolled into the 457(b) from other non-457(b) eligible retirement plans. 

Only Benefit Eligible Employees of the Boise School District are eligible to participate in these plans.

Getting Started with a 403(b) or 457(b) Plan

Boise School District’s 403(b) and 457(b) plans are administered by The OMNI Group. 

To begin a monthly payroll contribution: 

1. Establish an account with one of these Approved Vendors.

2. Complete and submit the Salary Reduction Agreement to OMNI Group.

3. OMNI Group will validate your plan and then notify the Boise School District’s Payroll Department to begin deducting the monthly contributions from your paycheck.