OMNI: 403b Common Remitter

• With regard to 403(b) accounts, a maximum of 40 tax-sheltered annuity companies will be selected by the Association for use by members. These vendors may be changed at the sole discretion of the Association and will be selected for the sole purpose of providing investment options for members. No selection is to be considered an endorsement on the part of the Association or the District, regardless of any outside endorsements, including those of NYSUT's Member Benefits.

• Members must complete the OMNI 403b Flex Form to utilize payroll deduction for 403b investments options. OMNI, the District's Common Remitter, requires this form to ensure IRS compliance with this benefit

NYS Deferred Compensation Plan (457-b Plan)

• With regard to Section 457(b) of the United States Internal Revenue Code, the default vendor to be utilized for the Deferred Compensation Plan will be the New York State Deferred Compensation Plan. The employee/participant is responsible for payment of the annual account fee associated with the Deferred Compensation Plan. It is the employee's responsibility to adhere to IRS limits as prescribed by law when utilizing 403(b) and 457(b) investment options.

Financial Counseling Program

If you have found yourself wondering whether you are properly invested for your retirement years…or whether it is time to refinance your mortgage…or if you are saving enough for your children’s educations…or what the best ways are to reduce your debts…then perhaps you could benefit by enrolling in the Financial Counseling Program recently endorsed by NYSUT Member Benefits Corporation. For an annual fee, you’ll get unbiased, objective advice from financial professionals who do not sell any financial products. The Financial Counseling Program is provided by Stacey Braun Associates, Inc., an investment advisory company. Its team of certified financial planners and registered investment advisors provide fee-based professional financial counseling. This means that Stacey Braun Associates receive no commissions from mutual funds, brokerage firms, insurance companies or any other third party.
 

The full-service Financial Counseling Program includes several features. You can consult with a planner or advisor toll-free for up to six hours per year. Calls can be made weekdays, and appointments can be made before or after normal business hours. You can request no-cost written summaries and reports on a variety of financial issues. You can receive assistance in choosing a 403(b) retirement savings program provider available
through your employer, as well as assistance on reviewing your 403(b) investment selections. When Stacey Braun holds an educational workshop in your area, the $40 admission fee will be waived for you (and your spouse) if you wish to attend. You can also request an in-person consultation with a Stacey Braun planner at a mutually agreed-upon location. This service is limited to 90 minutes and carries an additional fee.
 

For more information, visit NYSUT Member Benefits or call Member Benefits at 800-626-8101 weekdays from 9 a.m. to 5 p.m., or use the Contact feature on the NYSUT website.

The Stacey Braun Associates, Inc. Financial Counseling Program is a NYSUT Member Benefits Corporation (Member Benefits)―endorsed program. Under an agreement with Stacey Braun, Member Benefits has an expense reimbursement/endorsement arrangement of 10% of annual participation fees received plus $9 per direct bill participant. All such payments to Member Benefits are used solely to defray the costs of administering its various programs and, where appropriate, to enhance them. Member Benefits acts as your advocate; please contact Member Benefits at 800-626-8101 if you experience a problem with any endorsed program.