Retirement Savings Account Information

  • Benefit eligible Newton Public School employees can participate in the 403(b) Tax-Deferred Plan AND the City of Newton’s 457 Deferred Compensation Plan. You can choose to enroll in either one or both at the same time. This allows you to save even more money on a tax-deferred basis. By deferring compensation, you have the opportunity to lower your current income taxes and enjoy the advantage of tax-deferred compounding.

     
    2022 calendar year contribution maximums:                                  
       Employees under the age of 50: $20,500
       Employees over the age of 50: $27,000
     
    Our 403(b) plans are managed by TSA Consulting Group.  For assistance with rollovers, loans, hardship withdrawals, or other transactions, please visit http://www.tsacg.com or call 1-888-796-3786.  For a helpful guide to retirement accounts click here.


    To enroll in a new 403(b) account, please contact one of our approved providers to establish an account.  Once your account has been established, a salary reduction agreement form from your provider must be submitted to the Office of Human Resources.


    To make a change to a 403(b) account that has already been established with the Newton Public Schools, please use the form below. Please note that this form cannot be used for initial enrollment.
    403(b) Salary Reduction Agreement


    For more information or to participate in a 457 account, please contact one of our approved providers:

     
    Mission Square (formerly ICMA Retirement Corp)
     
    Mike Savage
    Phone: 888-803-2721

    VOYA (formerly ING)
     
    Matthew O'Brien
    Phone 617-910-6446
    Email: matt@kriegergrp.com
     
    Brady Cowling
    Phone 860-416-0742
    Email: brady.cowling@voyafa.com
     
    Ernie Krieger
    Phone 781-796-9861
    Email: ernie@kriegergrp.com
     
    To enroll in a Voya 457 plan online, go to enroll.voya.com and enter plan number VF3012, verification code 061516
    To set up your online 457b account with Voya after enrolling in the plan, go to voyaretirementplans.com
     
    To enroll in or make a change to, a 457 account, please use the form below.  Please make sure that your new 457 account is established through the provider prior to submitting an enrollment form to Human Resources.