Snoqualmie Valley Education Association
  • Home
  • We Are SVEA
    • Why SVEA?
    • Governing Documents
    • Leadership
    • FAQ
  • Member Resources
    • Resources
    • Dues
    • Collective Bargaining
    • Leave Information
    • Grievance Procedures
    • SVSD Union Information
  • Calendar
  • Partners
    • Sammamish UniServ Council
    • Washington Education Association >
      • Donate to WEA Children's Fund
    • National Education Association
  • Take Action!
    • Education is a Civil Right
    • OurVoice WEA
    • Join WEA-PAC!
    • Join NEA Fund!
    • Political Dos and Don'ts
  • Contact Us

TRS Plan 3 January rate change window ends after 2015

8/24/2014

 
From DRS...

When TRS Plan 3 was initially qualified by the IRS, TRS Plan 3 members could change their contribution rate each January beginning in 2004. However, the IRS changed its position by 2005, when SERS and PERS Plan 3 were qualified. Members of those plans were not allowed rate flexibility, and when the IRS re-qualified TRS Plan 3 in 2013, it was on the condition that January rate flexibility end in 2015.

The Washington State Legislature passed Senate Bill 6321, ending the option of an annual TRS Plan 3 rate flexibility window, to comply with the re-qualification. After January 2015, TRS Plan 3 members may only change contribution rates when they change employers. If you are a TRS Plan 3 member and would like to take advantage of the final rate change flexibility period in January 2015, you will need to complete a TRS Plan 3 Contribution Rate Change Form and turn it in to your employer between January 1 and 31.

If you contribute to the Deferred Compensation Program, keep in mind that you can change DCP contributions at any time – changes take approximately 30 days to go into effect. DCP is a voluntary retirement savings account that allows for contribution flexibility. Check with your employer to see if they offer DCP.



Comments are closed.

    About SVEA

    Picture
    The Snoqualmie Valley Education Association represents the 475+ certificated staff of the Snoqualmie Valley School District. We believe empowered educators, stronger together, are the foundation of great schools.

    Picture

    Connect

    Picture
    Picture
    Picture


    Tweets by @SVEAUnion

    Archives

    March 2022
    April 2020
    January 2019
    September 2018
    August 2018
    March 2018
    February 2018
    January 2018
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    October 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014

    RSS Feed

Proudly powered by Weebly