403(b) plan available to all employees

Take full advantage of your benefits by participating in the college-sponsored 403(b) retirement plan.

Who is eligible?
LCC’s 403(b) plan allows all full-time and part-time (non-student) employees to participate. If you are currently not a contributing member and wish to become one, you must first open an account with one of the college’s approved investment service providers. You may only select an investment service provider approved by LCC.

Who is an approved investment service provider?
Lincoln Financial, Waddell & Reed, and TIAA-CREF are all approved providers. Information about each provider can be found at internal.lcc.edu/hr/tsa/fund_sponsors.aspx.

How do I make my salary deferral elections?
After opening an account with one of the plan’s approved investment service providers, you need to complete a salary reduction agreement (internal.lcc.edu/hr/tsa). By completing the salary reduction agreement, you confirm you have established the necessary accounts with your selected investment service provider(s). Your salary reduction agreement also confirms the amount of deferral you intend to have withheld from each paycheck.

How much can I contribute?
You may contribute up to $19,000 to your 403(b) account in 2019 through salary deferrals. Additional amounts may be deferred based on your age, years of service or other factors. Please consult with your selected investment service provider for more information regarding contribution limits.

Questions?
Please contact Human Resources at x1870.