Important Notice:  Teachers may participate in one tax-sheltered annuity and the Deferred Compensation Plan. 403b investment companies must comply with IRS regulations to be eligible for payroll deduction. Please visit the OMNI (403b Common Remitter) website for an updated list of those companies that have complied with these regulations.

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.

Paycheck Deduction Codes/Listings

• Select this link to access Paycheck Deduction Codes/Listings on the Valley Central School District website. This information provides an itemized list of Investment as well as other payroll deduction codes that appear on VCSD check stubs along with a description of what each code means.