403(b) and 457 Savings Plans

  • All active Houston Independent School District (HISD) employees are eligible to participate in the voluntary 403(b) and 457 retirement plans sponsored by the district. You may direct pre-tax contributions to your contract with one or more providers. Select from over 30 active 403(b) providers offering annuity and non-annuity accounts.

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    What is a 403(b)?

    The 403(b) plan is  available to employees of educational and non-profit organizations. The plan allows employees to save pre-tax dollars directly from their paychecks into their personal retirement accounts. Dollars accumulate tax-deferred interest or investment earnings until withdrawn. Pre-tax contributions growing tax deferred allows more money to accumulate until retirement.

    Roth 403(b) after-tax contributions are allowed in the HISD plan. Roth 403(b) contributions are after-tax but the earnings and interest grow tax deferred while in the contract. Contributions and earnings are withdrawn tax-free when made both; after the employee attains age 59 ½, and after the Roth 403(b) account has been open at least 5 years.

    What is a 457?

    The 457 plan is a deferred compensation plan with similar tax advantages and contribution limits as the 403(b). After-tax Roth 457 contributions are not available in the HISD plan. Three (3) financial service providers are eligible to open contracts for HISD employees. The eligible providers are indicated on the providers list under the column heading ‘457 Contract Provider’.

    How do I enroll?
    You may start or change your voluntary retirement savings at any time in three easy steps!

    Step 1: Contact a financial services company from the active providers list and ask to open an HISD 403(b) or 457 retirement plan account. You may discuss both fixed and variable investment options and plan information with the financial services representative or agent.

    Step 2: Once the retirement account is established, you must access the OMNI website at https://www.omni403b.com/. OMNI is the HISD web-based retirement plan administration system.

    Step 3: Upon login to the OMNI site you may choose your contribution amount per payday and select your financial services provider(s). Contributions will be automatically deducted from your paycheck and sent to the selected provider(s).
    Please contact OMNI customer service if you have questions at 1-877-544-6664.
  •  IRS Maximum Contribution Limits:

      2021 2022 2023 2024 2025
    403(b) Employee Deferral Limit $19,500 $20,500 $22,500 $23,000 $23,500
    415(c) Annual Contribution Limit (1) $58,000 $61,000 $66,000 $69,000 $70,000
    457 Employee Deferral Limit (2) $19,500 $19,500 $22,500 $23,000 $23,500
    Age 50 Catch-Up Contribution (3) $6,500 $6,500 $7,500 $7500 $7,500
    1. Limit of combined employee & employer contributions to 403b plan only.
    2. 457 & 403b limits are separate and do not count against each other.
    3. Age 50 catch-up contributions are available for both the 403b and 457 plans.

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