Employers FAQ

If you wish to add an investment provider, please call Plan Support at 888-777-5827 or email the team at plansupport@tsacg.com.

A 403(b) plan is a voluntary retirement plan offered by public schools and other tax exempt organizations to their employees to help supplement employee retirement savings. 403(b) plans allow employees to set money aside in a special account and invest it for their retirement.

Contributions are made under a Salary Reduction Agreement (SRA) with your employer. This agreement allows your employer to withhold money from your paycheck to be contributed directly into a 403(b) account for your benefit. Usually, you do not pay income tax on these contributions until you withdraw them from the account.

To complete a Salary Reduction Agreement, click here

OMNI/TSACG provides each Plan Sponsor with IRS compliant plan documents, including a Volume Submitter 403(b) Plan Document that has been pre-approved by the IRS. Operating the plan under these documents will ensure the District is compliant under all IRS regulations.

During implementation, OMNI/TSACG works with employers to customize the plan document to their specific needs, but we also recognize that further changes might be desired. If you would like to make provision changes to your plan document, please contact your Plan Consultant or the Plan Support team at 888-777-5827 or email plansupport@tsacg.com.

Yes. When a participant completes an online SRA, the changes entered and confirmed by your employee are memorialized in the fund change e-mail you receive. Furthermore, OMNI/TSACG retains electronic records of each SRA (including IP addresses) that can be provided to you at a moment’s notice.

An elective contribution is a paycheck deferral made by the employee to his 403(b)/457(b) plan. To initiate the elective contribution, the employee must open a 403(b)/457(b) account and either complete a Salary Reduction Agreement (SRA) via OMNI/TSACG’s website or complete a paper SRA form and submit it to your designated office, i.e., Payroll, etc., based on the SRA method you utilize.

In contrast, non-elective contributions are funds, you, as the employer, choose to direct towards an individual’s 403(b) account, regardless if employees make their own contributions. These contributions come directly from the employer and are not deducted from employee’s salaries. Importantly, the employer and the employee never pay FICA and Medicare on non-elective contributions.

For those employers who utilize our online remittance service (EPARS), we continually track each participant’s Maximum Allowable Contribution (MAC) limit throughout the year. We will notify you when the employee is getting close to reaching his/her MAC as well as when the employee has reached his/her MAC. Our compliance checks will identify the excess funds and return them to the employer prior to the funds being sent to the investment provider.

For those employers who do not use our online remittance service, we will provide a plan audit each year upon receipt of the previous year’s W-2 file, and we will inform the employer of any employee who exceeded the MAC for that year. We will also assist the employer in rectifying the excess contribution between them and the investment provider.

As part of our all-inclusive services, OMNI/TSACG provides our clients with full IRS audit assistance. In fact, OMNI/TSACG has successfully assisted in over 120 IRS audits. If you receive an IRS audit letter, please contact your Plan Consultant or our Plan Support team at 888-777-5827 or via email to plansupport@tsacg.com.