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403b/457b FAQ
How do I Contribute?
- Choose a participating 403(b)/457(b) investment provider and establish your investment account. A list of providers is available by clicking here. After working with your investment provider to establish your account and select investment vehicles, then advance to step 2.
- Complete an OMNI Salary Reduction Agreement (SRA) to initiate your deductions. Click here for Salary Reduction Agreement Forms for Clovis Unified School District Clovis, CA. If the SRA is completed and OMNI can verify your Active Account with your provider by the end of the 15th of the month, then your deduction can start on that months paycheck.
Who is OMNI?
OMNI is the districts third party administrator (TPA) of 403(b)/457(b) plans. OMNI ensures compliance with IRS regulations governing the operation of the plans. OMNI also helps remit your contributions to the investment provider(s) you have specified. OMNI is NOT an investment company/investment provider, they do NOT offer and CANNOT recommend any specific investment vehicle.
Can I change or end my Deduction and/or Investment Provider?
Yes, you can change or end your deduction amount and/or investment provider at any time. Salary Reductions Agreements (SRA) that are completed by the 15th of the month can be deducted on that months paycheck, as long as OMNI has verified you have an active open account with that provider.
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Salary Reduction Agreement
Used to add, change or end your contributions
How much can I Contribute to my 403(b) and/or 457(b) Plan in 2025?
Contribution limits are dependent on a number of factors.
- The IRS calendar year limit for 403(b) and 457(b) plans increased by $500 in 2025 to $23,500.
- The age-based additional amount remains unchanged at $7,500 for 2025; however, this regular age-based additional amount is applicable to those aged 50 to 59 or 64 and older during the calendar year ending 12/31/2025.
- Starting January 1, 2025, SECURE 2.0 Act of 2022 includes a modification of the rules for participants utilizing the age based catch-up in 403(b) and 457(b) plans, which allows employees aged 60 to 63 to make higher catch-up contributions of up to $11,250.
Please contact OMNI for specifics. - Individuals with more than 15 years of consecutive service with their current employer MAY be eligible to contribute up to an additional $3,000 beyond their age based maximum.
Please contact OMNI's Customer Care Team for assistance determining your eligibility for the service based catch-up and also the aged 60 to 63 catch-up. OMNI will be able to specifically tell you what your maximum contribution limit is based on your scenario.
Limits are individual for 403(b) and 457(b).
Who is Eligible to Contribute?
All CUSD employees are eligible to contribute to a 403(b)/457(b) plan.
What's the Difference Between a 403(b) and 457(b)?
What is a ROTH Plan?
Basically, a Traditional 403(b)/457(b) is a pretax deduction where as a ROTH 403(b)/457(b) is a posttax deduction.
Please see the below document explaining the ROTH features:
I need a Signature on a document?
If you need a signature on a document for your 403(b)/457(b) due to cashing out, rolling funds, etc. CUSD is not authorized to sign documents. OMNI, the districts Third Party Administrator, can sign those types of documents.
Please call OMNI at 877-544-6664 and they can give you direction.