CCPS offers 3 great ways to save for the future!
403(b) Savings Plan
Roth 403(b) Savings Plan
457(b) Deferred Compensation Plan
All of these plans provide an opportunity for employees to save additional money for retirement through payroll deductions. The traditional 403(b) and 457(b) contributions are tax deferred (pre-tax) meaning the amount contributed is excluded from Federal and Maryland State income tax at the time of contribution. The Roth 403(b) is an after-tax retirement option. You pay taxes on the money you set aside now, but the growth and future withdrawals are tax free for qualified distributions.
Signing up is easy! Your first step is to contact our approved vendor, Lincoln Financial Group. Lincoln Financial's representatives are happy to provide you their investment choices, help you decide which plan and which investments are right for you, and answer any other questions you may have.
LINCOLN FINANCIAL GROUP
307 International Circle
Suite 390
Hunt Valley, MD 21030
|
Stacey Spedden-Irrgang
|
Elaine Norris |
|
410-771-5430
|
866-347-6851 |
|
Stacey.Spedden@LFG.com
|
Elaine.Norris@LFG.com |
|
Carroll Springs
|
Career & Tech Cetner
|
|
Carrolltowne Elementary
|
Elmer Wolfe Elementary
|
|
Central Office
|
FSK High
|
|
Century High
|
Mt. Airy Elementary
|
|
Cranberry Station
|
Mt. Airy Middle
|
|
Crossroads Middle
|
Northwest Middle
|
|
Ebb Valley Elementary
|
Outdoor School
|
|
Eldersburg Elementary
|
Parr's Ridge Elementary
|
|
Freedom Elementary
|
Robert Moton Elementary
|
|
Friendship Valley Elementary
|
Runnymede Elementary
|
|
Gateway School
|
Taneytown Elementary
|
|
Hampstead Elementary
|
Westminster East Middle
|
|
Liberty High
|
Westminster Elementary
|
|
Linton Springs Elementary
|
Westminster High
|
|
Manchester Valley High
|
Westminster West Middle
|
|
Mechanicsville Elementary
|
William Winchester Elementary
|
|
North Carroll Middle
|
|
|
Oklahoma Road Middle
|
|
|
Piney Ridge Elementary
|
|
|
Sandymount Elementary
|
|
|
Shiloh Middle
|
|
|
South Carroll High
|
|
|
Spring Garden Elementary
|
|
|
Sykesville Middle
|
|
|
Winfield Elementary
|
|
|
Winters Mill High
|
|
|
Retirees and Past Employees
|
|
|
|
There aren't any paper salary reduction agreements! You should submit salary deferral amounts directly to Lincoln Financial Group. You can do this online at www.LincolnFinancial.com 24 hours per day OR by contacting Lincoln Customer Service at 1-800-234-3500, Monday through Friday, from 8:00 a.m. to 8:00 p.m. Eastern Time.
How To Register Your Lincoln Account Online
Go to LincolnFinancial.com/Register. Follow the prompts; the whole process takes only about 3 minutes of your time. Once registered, you can take full advantage of the retirement planning resources, including educational articles, videos, calculators and planning tools.
FAQ
Who is eligible to participate?
All CCPS employees, with the exception of CCPS student interns, are eligible to participate in both plans.
When can you enroll?
You are eligible to enroll immediately upon your date of hire.
How are contributions made?
Contributions are made via payroll deduction. You determine the amount. You can increase, decrease, or discontinue your contribution amount at any time.
What is the maximum amount that you can contribute?
The IRS limits the annual contributions you can make and the limits are adjusted each year. Below are the limits for 2020:
- Elective Deferral Limit $19,500
- Age 50 Catch-up Limit $ 6,500