• Frequently Asked Questions

    Q: What is a 403(b) Plan?
    A: The 403(b) is a retirement plan available to certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers. The 403(b) is named after the section of the IRS code governing it. It is very similar to a 401(k) plan. For more information visit The Omni Group's participant page.

    Q: Is the money I put in a 403(b) account safe?
    A: Investing in a 403(b) account does have risks. Your investments are not insured and can decrease in value. Talk with your investment provider to make sure you fully understand all of the risks associated with investing.

    Q: Does the District match contributions?
    A: No.


    Q: Why is the district using a third party administrator?
    A: IRS regulations put a large burden on employers to ensure 403(b) accounts are maintained properly. US Omni is an independent administrator that has the expertise to ensure our plan complies with the IRS regulations concerning your contributions.

    Q: Who is the Omni Group?

    A: US Omni provides independent administration for 403b plans.  They receive and process your contribution to your selected vendor.


    Q: Where do my payroll deductions go?
    A: When contributions are deducted from your pay, Payroll sends your contributions to US Omni. They process the contributions to make sure they are in compliance with current IRS regulations. Once verified, your contributions are forwarded to your elected vendor(s).

    Q: Are hardship withdrawals and loans allowed under the HCS plan?
    A: Hardship withdrawals are allowed under the HCS plan. As of February 1, 2018, loans are allowed under our plan.  Contact your vendor directly for loan information.