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CCC Frequently Asked Questions (FAQ)
ALERT!!
Effective 08/08/2008, no changes will be made to CCC’s legacy
website, now with Internet address www.ncompliancelegacy.com. Henceforth, www.ncompliance.com
goes directly to CCC's new, dynamic, database supported website.
For many months now, CCC has been developing and testing a new, dynamic, database-supported website,
which now resides at www.ncompliance.com, while at the same time maintaining this website, which is
now our legacy website (www.ncompliancelegacy.com). Development of the new website was essential to
allow CCC to provide dedicated sections of its website to more than 50 new clients accumulated since
publication of the Final 403(b) Regulations on July 23, 2007. We chose completion of the Plan Document
System on the new website as the appropriate time to migrate from the legacy website, even though
considerable work remains to be done. Specifically, we will be working with Vendors through the end
of calendar year 2008 to incorporate updated Vendor information into the new website. Moreover, 457(b)
Deferred Compensation Plan (DCP) information remains only on this legacy website, but those CCC clients
for which we are managing their 457(b) Plans may continue to refer to this legacy website until the full
migration has been accomplished.
We are very proud of our new website, especially the Plan Document System and the Content Management
System (CMS), which allows Client Employers and Vendors to manage the content of their own sections of
the website. We hope you share our enthusiasm and will create links form your own websites to your
dedicated sections of the CCC website. Doing so will provide everything your employees need to know
about their 403(b) Program.
Very Frequently Asked Questions
- Does CCC provide financial
or investment advice?
- Where should I go
for financial or investment advice?
- Does PERS affect my
403(b) or 457(b) contributions?
- Am I eligible for
extra catch-up contributions?
- Must all 15 years
be with my current employer?
1. Does CCC provide financial or investment advice?
No. CCC provides only compliance assurance and plan
administration services to its client school districts.
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2. Where should I go for financial or investment advice?
A number of resources are available on the web, but many people have
neither the time nor the inclination to investigate these resources. Whatever
your preference, check out useful
links and the left-hand column of the authorized
vendors page of your District's section of this website, both for doing your own research and for information on financial
planners and investment advisors located in your area.
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3. Does PERS affect my 403(b) or 457(b) contributions?
The general answer is no. You are allowed to contribute right up to your
elective deferral limit into either or both of the 403(b) and 457(b) plans,
irrespective of employee and employer PERS contributions.
The only situations in which PERS contributions impact your ability to
contribute to 403(b) and/or 457(b) plans is when your gross salary is
fairly low (about $13,000 per year for a single plan or $26,000 per year
for both plans during 2004). Since contributions are limited to 100% of
compensation, if employee PERS contributions are pre-tax salary deductions,
they reduce your compensation. Consequently, they reduce the amount you
can contribute to the 403(b) and/or 457(b) plans.
Important Observation: If you are employed by a CCC
client school district, you may request a free calculation of your maximum
allowable contribution (MAC). Contact
us to request your MAC calculation.
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4. Am I eligible for extra catch-up contributions?
You may be eligible for extra elective deferrals to your 403(b) plan
if you will be 50 years or older or if you will complete at least 15 years
of service by the end of the calendar year. You may be eligible for extra
elective deferrals to your 457(b) plan if you will be 50 years or older
by the end of the calendar year or if this year is one of the last three
years before your normal retirement age. Click
here for more details.
Important Observation: If you are employed by a CCC
client school district, you may request a free calculation of your maximum
allowable contribution (MAC). Contact
us to request your MAC calculation.
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5. Must all 15 years be with my current employer?
Yes! Just because you have 15 years of service with
PERS covered employers (e.g., various Oregon public school districts),
that does not mean you are eligible for the "15 years of service
catch-up." All 15 years of service must be with the school district
that employs you now. Click here for more
details.
Important Observation: If you are employed by a CCC
client school district, you may request a free calculation of your maximum
allowable contribution (MAC). Contact
us to request your MAC calculation.
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