- Newton Public Schools
- Benefits
- Retirement Savings Account Information (403b & 457)
Retirement Savings Account Information
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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.2023 calendar year contribution maximums:Employees under the age of 50: $22,500Employees over the age of 50: $30,000
403(b) Information
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Approved 403(b) Vendors
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Our 403(b) plans are managed by TSA Consulting Group
Our 403(b) plans are managed by TSA Consulting Group. For assistance with rollovers, loans, hardship withdrawals, or other transactions, please visit the Newton Public Schools TSA Consulting Group website or call 1-888-796-3786.
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To enroll in a new 403(b) account
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.
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To make a change to a 403(b) account
To make a change to a 403(b) account that has already been established with the Newton Public Schools, please use the 403(b) Salary Reduction Agreement form. Please note that this form cannot be used for initial enrollment.
457 Account Information
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Approved Providers
For more information or to participate in a 457 account, please contact one of our approved providers:
Mission Square
(formerly ICMA Retirement Corp)Matthew O'Brien
Phone 617-910-6446Brady CowlingPhone 860-416-0742 -
To enroll in a Voya 457 plan online
To enroll in a Voya 457 plan online, visit the Voya site and enter plan number VF3012, verification code 061516To set up your online 457b account with Voya after enrolling in the plan, go to Voya Retirement Plans. -
To enroll in or make a change to a 457 account using a form
To enroll in or make a change to, a 457 account, please use the 457 Enrollment/Change form. Please make sure that your new 457 account is established through the provider prior to submitting an enrollment form to Human Resources.
