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EMPLOYEE RETIREMENT BENEFITS

Tax Sheltered Annuity and Deferred Compensation
Anoka-Hennepin employees have the opportunity to participate in either a 403(b) Tax Sheltered Annuity program or a 457 deferred compensation plan.  The terms "403(b)" and "457" refer to sections of the IRS Code which define the rules by which "pre-tax" investments may be made through payroll deduction.

IRC 403(b)

IRC 457

403(b) Investment Options
Enrollment or changes to your contributions or vendor under these programs require the completion of a new Salary Reduction Form. These forms are available in the Payroll or Labor Relations & Benefits Department at the Educational Services Center or online below. While all employees are eligible to participate in this program on a voluntary basis, please see the appropriate working agreement for district match eligibility criteria.

Questions regarding the 403(b) program can be directed to the Payroll Department by calling 763.506.1050.

Under new regulations from the Internal Revenue Service, employers have been allocated increased responsibilities as plan sponsors and are required to take a more active role in administering 403(b) plans.  As a result, an employer signature is required to authorize most transactions.  If you have paperwork requiring an employer or plan sponsor signature, please contact the labor relations and benefits department at 763-506-1108.

403(b) Enrollment Process

403(b) glossary

403(b) vendor list

403(b) Pricing & Product Features Comparison

403(b) Salary Reduction Agreement (updated agreement)

School Board Policy regarding Vendor Solicitation of Staff 


457 Investment Options
Minnesota Defined Contribution Plan (MNDCP) is the district's designated provider for a 457(b) governmental deferred compensation plan.  This plan allows eligible employees to supplement any existing retirement or pension plans without reducing future pension or social security benefits.  Contributions are made through pre-tax payroll deduction and are not eligible for district match. 

For employee participation in Minnesota Deferred Compensation 457 plan, go to www.mndcplan.com or call 651-296-2761.  Once paperwork and an account have been completed with MNDCP, they will forward the reduction agreement to the payroll department where payroll deductions can be set up.  

Retirement from Anoka-Hennepin
Employees considering retirement are encouraged to contact their appropriate pension association to determine eligibility for retirement benefits.  The Teacher Retirement Association (TRA) serves all district employees in positions that require Minnesota Teacher Licensure.  The Public Employee Retirement Association (PERA) serves all other district employees.  Employees who are considering retirement, and have worked in the district at least the past ten years and are immediately eligible for TRA or PERA benefits are strongly encouraged to attend one of the retirement meetings held each year in February.  Call the Anoka-Hennepin Labor Relations & Benefits - Insurance Department at 763.506.1085 to register for a meeting or to obtain additional information on retirement.

All employees must notify the Anoka-Hennepin Employee Services by March 1 of each year if you plan to retire by the end of the school year.

TRA Website - Phone 651.296.2409

PERA Website - Phone 651.296.7460

Anoka-Hennepin Retirement Planning