403(b) Plan
The IRS allows full- and part-time employees of DPS to save for retirement and reduce their current income taxes. You may defer a portion of your salary on a pretax basis and place it in an account with one of the district's approved 403(b)vendors. DPS will deduct the amount you authorize and send it to an approved TSA provider, where it is invested on a tax-deferred basis. DPS offers a choice of qualified companies that provide TSA products for employees.
In 2008, employees can contribute to the IRS $15,500 maximum. Employees who are over age 50 or will 50 in 2008 calendar year can contribute another $5,000 to the plan. Employees are eligible enroll in both the 403(b) and 457(b) plans to save twice the amount of the IRS limit.
It is very important that you read all the material you will receive about TSAs before choosing to participate. You should consult a tax or financial advisor for further information and advice about your personal financial situation.