Transcript 403(B) - Bartholomew Consolidated School Corporation

Bartholomew
Consolidated Schools
403(B) Plan
401(A) Plan
VEBA
2012
ANNUITY GROWTH CHART- TWINS
Assume growth of
9%
Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
34
Age
22
23
24
25
26
27
28
29
30
31
32
33
34
35
55
35
36
37
38
39
40
41
56
57
58
59
60
61
62
Billy
Deposit
Accum
$
2,000 $
2,180
$
2,000 $
4,556
$
2,000 $
7,146
$
2,000 $
9,969
$
2,000 $ 13,047
$
2,000 $ 16,401
$
2,000 $ 20,057
$
2,000 $ 24,042
$
$ 26,206
$
$ 28,564
$
$ 31,135
$
$ 33,937
$
$ 36,992
$
$ 40,321
$
$ 225,975
$
$
$
$
$
$
$
-
$
$
$
$
$
$
$
246,313
268,481
292,644
318,982
347,691
378,983
413,092
ANNUITY GROWTH CHART- TWINS
Assume growth of
9%
Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
34
Age
22
23
24
25
26
27
28
29
30
31
32
33
34
35
55
35
36
37
38
39
40
41
56
57
58
59
60
61
62
Billy
Deposit
Accum
$
2,000 $
2,180
$
2,000 $
4,556
$
2,000 $
7,146
$
2,000 $
9,969
$
2,000 $ 13,047
$
2,000 $ 16,401
$
2,000 $ 20,057
$
2,000 $ 24,042
$
$ 26,206
$
$ 28,564
$
$ 31,135
$
$ 33,937
$
$ 36,992
$
$ 40,321
$
$ 225,975
Bob
Deposit
Accum
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
2,000 $
2,180
$
2,000 $
4,556
$
2,000 $
7,146
$
2,000 $
9,969
$
2,000 $
13,047
$
2,000 $
16,401
$
2,000 $ 203,446
$
$
$
$
$
$
$
$
$
$
$
$
$
$
-
$
$
$
$
$
$
$
246,313
268,481
292,644
318,982
347,691
378,983
413,092
2,000
2,000
2,000
2,000
2,000
2,000
2,000
$
$
$
$
$
$
$
223,936
246,271
270,615
297,150
326,074
357,601
391,965





All BCSC employees are eligible for 403(b)
salary reduction.
Deductions are taken out of 20 pays for noncontracted and non-year-round employees
Deductions are taken out of 26 pays for
contracted and year-round employees.
All 3 vendors will have reps visiting the
buildings after the start of school
You can also call and schedule an appointment
if you missed them
403(B)




No hardship withdrawals
No loans
No catchup deferrals
Blank salary reduction agreement on BCSC
website
403(B) Investment Choices

METLIFE

Annuities (57 choices)




$30 Account Fee
.50% Mortality Fee
No Surrender Fee (except fixed fund)
Mutual Funds (29 choices)

.28% Account Fee + expense ratio of fund(s)
403(B) Investment Choices

AIG Retirement (VALIC)

Annuities (29 choices)




No Account Fee
.75-1.25% Mortality Fee
No Surrender Fee (except fixed fund)
Mutual Funds (Internet Only) (90 choices)

$40 Account Fee + expense ratio of fund(s)
403(B) Investment Choices

ASPire (403b ASP)



$40 Account Fee + .10% Management Fee +
expense ratio of fund(s)
40 Mutual Funds through Edward Jones
Option of Self-directing through 403(b) ASP
(Internet Only)

Thousands of mutual funds to choose from



Apply on the 403bASP-BCSC website
When account is set up, fill out a BCSC salary reduction
agreement, sign, and send to Business Office
No rep or broker to work with
ROLLOVERS, EXCHANGES, AND
TRANSFERS



Rollovers- monies from a previous employer
403(b) or similar plan; check was received
Transfers- monies from a previous employer
403(b) or similar plan; directly sent to new
403(b) vendor (no cash or check involved)
Check to see if there are any surrender charges
from the vendor losing the funds
401(A)





BCSC matches up to 3% of your base salary
Monies are sent to Metlife regardless of your
403(B) vendor
An account will be set up with Metlife for the
401(A)
You invest the monies just like you would in
your 403(B)
5 year vesting
YEARS IN
EDUCATION
0
1
2
3
4
5
6
7
8
18
28
38
39
40
AGE
22
23
24
25
26
27
28
29
30
40
50
60
61
62
403(b)
401(a)
9%
2%
3%
3%
(Assumed grow th)
(Assumed grow th)
EMPLOYEE
CONTRIBUTION
$
1,080.00
$
1,121.06
$
1,163.31
$
1,206.84
$
1,251.60
$
1,297.68
$
1,345.12
$
1,393.96
$
1,444.18
$
2,005.52
$
2,444.72
$
2,980.10
$
3,039.70
$
3,100.50
EMPLOYER
MATCH
$
1,080.00
$
1,121.06
$
1,163.31
$
1,206.84
$
1,251.60
$
1,297.68
$
1,345.12
$
1,393.96
$
1,444.18
$
2,005.52
$
2,444.72
$
2,980.10
$
3,039.70
$
3,100.50
$
$
$
$
$
$
$
$
$
$
$
$
$
$
SALARY
36,000
37,369
38,777
40,228
41,720
43,256
44,837
46,465
48,139
66,851
81,491
99,337
101,323
103,350
TOTAL
CONTRIBUTION
$
2,160.00
$
2,242.12
$
2,326.62
$
2,413.67
$
2,503.19
$
2,595.36
$
2,690.23
$
2,787.92
$
2,888.35
$
4,011.04
$
4,889.44
$
5,960.20
$
6,079.40
$
6,200.99
$
$
$
$
$
$
$
$
$
$
$
$
$
$
TOTAL
VALUE
2,257.20
4,803.37
7,666.99
10,879.31
14,474.28
18,489.12
22,964.43
27,944.60
33,477.94
133,780.22
386,845.07
1,001,301.55
1,097,771.67
1,203,051.15
YEARS IN
EDUCATION
0
1
2
3
4
5
6
7
8
18
28
38
39
40
AGE
22
23
24
25
26
27
28
29
30
40
50
60
61
62
403(b)
401(a)
9%
2%
3%
3%
(Assumed grow th)
(Assumed grow th)
EMPLOYEE
CONTRIBUTION
$
1,080.00
$
1,121.06
$
1,163.31
$
1,206.84
$
1,251.60
$
1,297.68
$
1,345.12
$
1,393.96
$
1,444.18
$
2,005.52
$
2,444.72
$
2,980.10
$
3,039.70
$
3,100.50
EMPLOYER
MATCH
$
1,080.00
$
1,121.06
$
1,163.31
$
1,206.84
$
1,251.60
$
1,297.68
$
1,345.12
$
1,393.96
$
1,444.18
$
2,005.52
$
2,444.72
$
2,980.10
$
3,039.70
$
3,100.50
$
$
$
$
$
$
$
$
$
$
$
$
$
$
SALARY
36,000
37,369
38,777
40,228
41,720
43,256
44,837
46,465
48,139
66,851
81,491
99,337
101,323
103,350
TOTAL
CONTRIBUTION
$
2,160.00
$
2,242.12
$
2,326.62
$
2,413.67
$
2,503.19
$
2,595.36
$
2,690.23
$
2,787.92
$
2,888.35
$
4,011.04
$
4,889.44
$
5,960.20
$
6,079.40
$
6,200.99
$
$
$
$
$
$
$
$
$
$
$
$
$
$
TOTAL
VALUE
2,257.20
4,803.37
7,666.99
10,879.31
14,474.28
18,489.12
22,964.43
27,944.60
33,477.94
133,780.22
386,845.07
1,001,301.55
1,097,771.67
1,203,051.15
BARTHOLOMEW CONSOLIDATED SCHOOLS
403(B) VENDORS
403(B)ASP Rick
403(B)ASP Ryan
403(B)ASP Rick
403(B)ASP Lisa
403(B)ASP Jodi
403(B)ASP Mike
403(B)ASP Ken
403(B)ASP Bob
403(B)ASP Andy
403(B)ASP Jim
403(B)ASP Eric
METLIFE Lottie
METLIFE Tim
AIG (VALIC)Gary
AIG (VALIC)Nate
AIG (VALIC)Stephanie
Colglazier
Burchfield
Crossman
Duke
Engelstad
Engelstad
Free
Lewis
Mann
Ostermueller
Robbins
Barcus
Reusser
Bridwell
Richardson
Bunday
CFD Investments
Edward Jones
Edward Jones
Edward Jones
Edward Jones
Edward Jones
Edward Jones
Edward Jones
Edward Jones
Edward Jones
Edward Jones
As of: 8/8/2011
372-4400
[email protected]
378-0611
[email protected]
342-8193
[email protected]
378-0475
[email protected]
375-9160
[email protected]
378-0475
[email protected]
378-0022
[email protected]
378-5495
[email protected]
378-1018
[email protected]
376-0370
[email protected]
342-8193
[email protected]
765-720-7786
[email protected]
317-345-5524
[email protected]
800-892-5558 ext. 87042 [email protected]
800-892-5558 ext. 88809 [email protected]
800-892-5558 ext. 88458 [email protected]
BCSC BUYS YOUR UNUSED SICK DAYS OVER 180
FOR $43 PER DAY
FUNDS CAN ONLY BE USED FOR HEALTH-RELATED
EXPENDITURES
VEBA ACCUMULATION
AGE
22
23
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
18
10
ANNUAL
ANNUAL
YEARS OF SICK DAYS SICK DAYS ACCUM
DAYS
TEACHING
GIVEN
USED
SICK DAYS BOUGHT
1
18
10
8
0
2
18
10
16
0
22
18
10
176
0
23
18
10
184
4
24
18
10
188
8
25
18
10
188
8
26
18
10
188
8
27
18
10
188
8
28
18
10
188
8
29
18
10
188
8
30
18
10
188
8
31
18
10
188
8
32
18
10
188
8
33
18
10
188
8
34
18
10
188
8
35
18
10
188
8
36
18
10
188
8
37
18
10
188
8
38
18
10
188
8
39
18
10
188
8
40
18
10
188
8
41
18
10
188
8
GROWTH RATE=
9%
ACCUM
VALUE OF VALUE OF
DAYS
DAYS
COMPOUNDED VALUE OF
BOUGHT
BOUGHT
GROWTH
ONE DAY
$
$
$
$
$
$
$
172 $
172
172.00
43.00
$
344 $
516
531.48
46.87
$
344 $
860
923.31
51.09
$
344 $
1,204
1,350.41
55.69
$
344 $
1,548
1,815.95
60.70
$
344 $
1,892
2,323.38
66.16
$
344 $
2,236
2,876.49
72.12
$
344 $
2,580
3,479.37
78.61
$
344 $
2,924
4,136.52
85.68
$
344 $
3,268
4,852.80
93.39
$
344 $
3,612
5,633.55
101.80
$
344 $
3,956
6,484.57
110.96
$
344 $
4,300
7,412.19
120.94
$
344 $
4,644
8,423.28
131.83
$
344 $
4,988
9,525.38
143.69
$
344 $
5,332
10,726.66
156.63
$
344 $
5,676
12,036.06
170.72
$
344 $
6,020
13,463.31
186.09
$
344 $
6,364
15,019.00
202.84
VEBA ACCUMULATION
AGE
22
23
34
35
36
37
38
39
40
60
61
62
18
5
ANNUAL
ANNUAL
YEARS OF SICK DAYS SICK DAYS ACCUM
DAYS
TEACHING
GIVEN
USED
SICK DAYS BOUGHT
1
18
5
13
0
2
18
5
26
0
13
18
5
169
0
14
18
5
182
2
15
18
5
193
13
16
18
5
193
13
17
18
5
193
13
18
18
5
193
13
19
18
5
193
13
39
18
5
193
13
40
18
5
193
13
41
18
5
193
13
GROWTH RATE=
9%
ACCUM
VALUE OF VALUE OF
DAYS
DAYS
COMPOUNDED VALUE OF
BOUGHT
BOUGHT
GROWTH
ONE DAY
$
$
$
$
$
$
$
86 $
86
86.00
43.00
$
559 $
645
652.74
46.87
$
559 $
1,204
1,270.49
51.09
$
559 $
1,763
1,943.83
55.69
$
559 $
2,322
2,677.78
60.70
$
559 $
2,881
3,477.77
66.16
$
559 $
14,061
48,089.39
370.79
$
559 $
14,620
52,976.43
404.16
$
559 $
15,179
58,303.31
440.54
VEBA ACCUMULATION
AGE
22
23
31
32
33
34
35
50
51
52
53
54
55
56
57
58
59
60
61
62
GROWTH RATE=
9%
18
0
ACCUM
ANNUAL
ANNUAL
VALUE OF VALUE OF
YEARS OF SICK DAYS SICK DAYS ACCUM
DAYS
DAYS
DAYS
COMPOUNDED VALUE OF
TEACHING
GIVEN
USED
SICK DAYS BOUGHT BOUGHT
BOUGHT
GROWTH
ONE DAY
1
18
0
18
0 $
$
2
18
0
36
0 $
$
10
18
0
180
0 $
$
11
18
0
198
18 $
774 $
774
774.00
43.00
12
18
0
198
18 $
774 $
1,548
1,617.66
46.87
13
18
0
198
18 $
774 $
2,322
2,537.25
51.09
14
18
0
198
18 $
774 $
3,096
3,539.60
55.69
29
18
0
198
18 $
774 $
14,706
35,618.29
202.84
30
18
0
198
18 $
774 $
15,480
39,597.93
221.09
31
18
0
198
18 $
774 $
16,254
43,935.75
240.99
32
18
0
198
18 $
774 $
17,028
48,663.96
262.68
33
18
0
198
18 $
774 $
17,802
53,817.72
286.32
34
18
0
198
18 $
774 $
18,576
59,435.32
312.09
35
18
0
198
18 $
774 $
19,350
65,558.49
340.18
36
18
0
198
18 $
774 $
20,124
72,232.76
370.79
37
18
0
198
18 $
774 $
20,898
79,507.71
404.16
38
18
0
198
18 $
774 $
21,672
87,437.40
440.54
39
18
0
198
18 $
774 $
22,446
96,080.77
480.19
40
18
0
198
18 $
774 $
23,220
105,502.03
523.40
41
18
0
198
18 $
774 $
23,994
115,771.22
570.51
VEBA ACCUMULATION
AGE
22
23
31
32
33
34
35
50
51
52
53
54
55
56
57
58
59
60
61
62
GROWTH RATE=
18
0
ACCUM
ANNUAL
ANNUAL
VALUE OF VALUE OF
YEARS OF SICK DAYS SICK DAYS
ACCUM
DAYS
DAYS
DAYS
TEACHING
GIVEN
USED
SICK DAYS BOUGHT BOUGHT
BOUGHT
1
18
0
18
0 $
$
2
18
0
36
0 $
$
10
18
0
180
0 $
$
11
18
0
198
18 $
774 $
774
12
18
0
198
18 $
774 $
1,548
13
18
0
198
18 $
774 $
2,322
14
18
0
198
18 $
774 $
3,096
29
18
0
198
18 $
774 $
14,706
30
18
0
198
18 $
774 $
15,480
31
18
0
198
18 $
774 $
16,254
32
18
0
198
18 $
774 $
17,028
33
18
0
198
18 $
774 $
17,802
34
18
0
198
18 $
774 $
18,576
35
18
0
198
18 $
774 $
19,350
36
18
0
198
18 $
774 $
20,124
37
18
0
198
18 $
774 $
20,898
38
18
0
198
18 $
774 $
21,672
39
18
0
198
18 $
774 $
22,446
40
18
0
198
18 $
774 $
23,220
41
18
0
198
18 $
774 $
23,994
9%
COMPOUNDED
GROWTH
774.00
1,617.66
2,537.25
3,539.60
35,618.29
39,597.93
43,935.75
48,663.96
53,817.72
59,435.32
65,558.49
72,232.76
79,507.71
87,437.40
96,080.77
105,502.03
115,771.22
VALUE OF
ONE DAY
43.00
46.87
51.09
55.69
202.84
221.09
240.99
262.68
286.32
312.09
340.18
370.79
404.16
440.54
480.19
523.40
570.51
Questions?????