Retirement & Investment Benefits

401(a) Annuity Information

The 401(a) is the employer matching contribution portion of a tax-sheltered annuity plan. BCSC contributes to a participating employees' 401(a) account ONLY if that employee contributes to a 403(b) Annuity. The vendor for BCSC's 401(a) plan is MetLife. Information about the 401(a) plan can be found in Article V, Section 1 of the Collective Bargaining Agreement or in the Support Staff Handbook located on our HR Page.

401(a) IRS Information

401(a) Metlife Login

401(a) Investment Options

Your Current Contribution/Benefit Amounts

Contact information to complete 401(a) account setup:

Lottie Barcus
765-720-7786
Lbarcus@financialguide.com

403(b) Information

The 403(b) Annuity is the optional employee contribution portion of a tax-sheltered annuity plan allowed by IRS Code Section 403(b). Employees contribute to their 403(b) through payroll deductions (see form link below). In order to receive an employer match in a 401(a), employees must contribute to a 403(b).

BCSC's plan does NOT allow for loans or hardship withdrawals.

Instructions for Setting up a New 403(b)/401(a) Account 10-12-20

Instructions for Changing a Deduction, Vendor, Withdrawals, etc. 10-14-2020

403(b) Plan Document

403(b) Payroll Deduction Form

Referendum 403(b) Deduction Form (Teachers only)

403(b) IRS Information

Your Current and YTD Contribution/Benefit Amounts

403b Acknowledgement

VEBA

Eligible BCSC employees may be enrolled in a Voluntary Employees' Beneficiary Association (VEBA) after accumulating a certain number of unused sick/personal days. VEBA accounts are tax sheltered funds that can be used for medical expenses after retirement. MidAmerica is BCSC's vendor for the VEBA. Information about VEBA can be found in Article IV, Section 2 of the Collective Bargaining Agreement or in the Support Staff Handbook. The vendor charges a $1/month account maintenance fee.

VEBA Claim Form for Retirees

VEBA Frequently Asked Questions

Mid-America Welcome Kit

Health Savings Account (HSA)

BCSC employees who are enrolled in the high-deductible (Option1) BCSC health plan are eligible for a Health Savings Account. BCSC employees Health Savings Accounts are deposited with Centra Credit Union. Deposits (up to the federal maximum) and distributions (when used for qualifying medical expenses) are both tax exempt. Balances carry over from year-to-year.

HSA IRS Information

Centra Credit Union HSA Information

HRA/HSA/FSA Comparison Sheet

Bartholomew County Retired Teachers Association

Indiana 529 College Direct Savings Plan

Save for college for yourself, a child or other relative, or a friend. While this deduction is post-tax, the significant tax benefit is a 20% tax credit up to $1000 when you file your taxes.

Set-up Your 529 College Savings Account

Payroll Deduction Option

Any permanent employee can have money deducted from each paycheck to contribute to your 529 CollegeChoice 529 Direct Savings Plan (minimum is $10/pay).

Simply set up your account, complete the "Payroll Deduction" section, and submit to Heather Downin at the BCSC Administration Building. Instructions are at this link. Changes can be made to your 529 deduction each quarter (Jan. 1, Apr. 1, Jul. 1, and Oct. 1). Forms must be turned in at least one week prior to the end of the quarter.

If you already have a 529 account, simply login to your account and navigate to the "Go to payroll deduction" section (it is under "Manage Recurring Contributions"). Enter the amount you want to deduct each pay. The website will generate the Payroll Deduction Form. Print, sign , and send the form to Heather Downin at the Admin Building. This does not change any contributions you are already making from your bank account. You will need to make those changes in your account, as well.

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