PenServ

Beaufort County School District has partnered with PenServ as the 403(b) third party administrator. PenServ will process the various payroll deductions in an electronic format and will be the sole record keeper for all new vendor enrollments, changes, etc.

Employees may contact Customer Service at 800-849-4001  or  PenServ website:   www.penserv.com

You may view your account information:

1. Log onto https://www.reportlinkplus.com/penservweb/

2. Click on "FIRST TIME VISITOR?"

3. Type in the Social Security Number and the plan's access code which is: beau5689

4. Follow the instructions prompted on the web page.

Hardship Withdrawal Information - Employees should follow the procedures listed below in reference to 403(b) Loans or Hardship Withdrawals*:

  1. The employee contacts his/her vendor to request that company’s paperwork.
  2. The employee completes the paperwork and then fax to:
            PenServ, Distribution Dept at 1-803-791-5925
  3. Or mail to:
    PenServ, Distribution Dept
    P. O. Box 7248
    Columbia, SC 29202

PenServ will contact the 403b vendor regarding your account information before the distribution is made.

*Hardship Withdrawals may be made for the following reasons and documentation will be required when sending the request form:

  • Home foreclosure or eviction (attach copy of notice)
  • Purchase of a primary residence (attach legal paperwork)
  • Medical expenses for the employee or dependents (attach bills)
  • Tuition payments for the employee or dependents (attach bills)
  • IRS bills (attach bills)

Beaufort County School District 403(b) Plan
2015 Universal Availability Notice

To:   All Employees of Beaufort County School District

In compliance with the requirements of IRC §403(b)(12(A)(ii) this Notice will advise you of the voluntary 403(b) program established and maintained for the benefit of our employees. The following information provides details of the Plan and outlines the procedures for enrollment.

Eligibility

All employees who are employed by the Employer.

Contributions

When you enroll in the program, the amounts you designate as salary deferrals are withheld from your wages and forwarded to an investment provider of your choice. Several types of contributions are available in your Plan:

Pre-Tax Salary Deferrals - These are amounts contributed into a 403(b) plan that are deferred from your paycheck before federal income taxes are applied. State income taxes may or may not be applicable.

Roth Salary Deferrals - These amounts are also deferred from your paycheck, but are subject to federal and state income taxes. When you withdraw monies, however, the funds may be excluded from taxation. Special rules apply to Roth contributions and you should contact your tax advisor before electing this option.

  • For 2015, you may defer from your wages, a maximum of $18,000 to all 403(b) and 401(k) plans unless you will reach 50 years of age during the year. In that case, you would be eligible to contribute an additional $6,000. Deferrals may not exceed 100% of your wages.

Employer Contributions - The Plan also allows your Employer to make contributions to the Plan on your behalf.

Rollovers - You may also rollover funds from another employer’s plan if you receive an eligible rollover distribution.  Before you can complete a rollover into this Plan, you must first receive an acceptance authorization before the monies to be applied to your account.

Plan Investment Options

Your contributions to the 403(b) Plan must be made to an investment provider approved by your Employer. Before enrolling in the Plan, you should first establish an account with one of the Providers listed in this Notice. Once you have executed an investment contract, you should establish an account through the Plan’s web site and create a secure login and password.

Assistance

You may enroll in the Plan or receive assistance with these provisions by contacting the Plan’s Third Party Administrator, your Employer’s Benefit Administrator or a representative for one of the Investment Companies listed in this Notice.  Additional information about the provisions and options in your Plan are available by contacting PenServ Plan Services, Inc. at (800) 849-4001 or from the Plan’s web site (see below).

Investment Provider Options

Provider and Product Name:  American Funds
Product Type:  Mutual Funds
Contact:  Owen Hand or Ronnie Tanner (843) 524-6310
owen@handandtanner.com
ronny@handandtanner.com

Provider and Product Name:  Ameriprise Financial Services
Product Type:  Annuities
Contact:   John Rush, Phone: 843-837-1220 or
Lynette Friemel, Phone: 843-837-1220

Provider and Product Name:  AXA Equitable
Product Type:  Annuities
Contact:  Ben Capers (800) 628-6673 / www.axaonline.com

Provider and Product Name:  Life Insurance Company of the Southwest
Product Type:  Annuities
Contact:  Ed Cawley (912) 655-5107,  edcawley@valueteachers.com

Provider and Product Name:  Merrill Lynch
Product Type:  Mutual Funds

Provider and Product Name:  MetLife/FASCore
Product Type:  Annuities
Contact: Jim Diemer (912) 819-2132
Heather O'Donovan (912) 919-2443
E-mail:  jdiemer@metlife.com  or   www.jimdiemer.metlife.com
jodonovan@metlife.com

Provider and Product Name:  Reliastar Life Insurance Company
Product Type:  Annuities
Contact:  James Roles (888) 587-4537
L. Bradley (888) 587-4537,  jrismoney@aol.com

Provider and Product Name:  Variable Annuity Life Ins. Co. (VALIC)
Product TypeL  Annuities

If you have any questions regarding the Plan or would like to request further information about the program, please contact:  
PenServ Plan Services, Inc.
Plan Recordkeeper
Phone 800.849.4001
www.penserv.com
Email: 403badministration@penserv.com

Employer Benefits Administrator
Beaufort County School District
Rosella Robinson and Velda Vaughn
Human Resources Department
District Telephone:  843-322-2300

Plan Web Site is available at www.penserv.com

Select:  Login to Your Account