403(b) Enrollment Procedures

Who is Kazdon?

Kazdon, Inc. provides a variety of services to public education employers that relate to the compliance and administration of 403(b) retirement plans. The Internal Revenue Service recently issued new regulations regarding 403(b) plans which significantly increase the administrative and reporting responsibilities of plan sponsors (School Districts). These requirements include making the plan sponsor responsible for the review and approval process of any transaction made to any account that is a part of the sponsored 403(b) plan.

In response to these requirements, your employer has contracted with Kazdon. On behalf of your employer, Kazdon will be responsible for the approval process of transactions such as Distributions, Enrollment, Exchanges, Transfers, 403(b) Loans, and Rollovers. Upon reviewing submitted paperwork to ensure that the transaction complies with IRS regulations, Kazdon will forward approved paperwork to your authorized provider who will complete the transaction by disbursing funds directly to you or directly to an account specified by you.

The goal of Kazdon is to efficiently facilitate the process for you, the participant, as well as your employer, the plan sponsor, and your product provider. We have listed below the steps for enrolling in the plan, as well as steps required for approval of transactions that you may wish to have processed. Carefully reviewing this information and submitting the correct, completed documentation will help ensure that your request will be processed as quickly as possible. If you have questions while preparing documentation, a Kazdon representative can be reached at 1-877-4kazdon. Please note that Kazdon is not an investment product provider and we cannot give investment advice. For questions regarding your investments, please contact your product provider or financial advisor.

Participation in your 403(b) retirement plan

To enroll in the Supplemental 403(b) Retirement Plan, you must do five things:

  1. Select the company(s) you wish to invest with from the Vendors List on this website.
  2. Establish an account with that company. (You need to contact that company directly.)
  3. Complete the “Salary Reduction Agreement” (SRA) form, which authorizes your employer to withhold the amount you elect to contribute to your 403(b) via payroll deduction. Your employer will forward the contribution to the investment company on your behalf.
  4. Submit a “TRS Disclosure” form completed by the company you are applying to.
  5. Return the completed SRA and TRS Disclosure forms to Kazdon by the 25th of the month prior to when your deduction will begin.

Important - You MUST establish an account with your selected provider prior to the date you begin the Salary Reduction. If the account has not been properly established, your contributions will be returned to you and will be taxable. Verifying that account has been established before submitting the SRA will expedite the process and help to avoid having funds returned to you.

Change(s) or Stopping

A new Salary Reduction Form must also be completed any time that you wish to:

Remember that all SRA forms must be submitted to your plan sponsor by the 25th of the month prior to the payroll for which you wish the change to be effective.

403(b) Transaction Processing

All transactions require a Transaction Authorization Form. The Transaction Authorization Form provides important information regarding your request and is vital to ensuring proper processing.

Distributions

Distribution transactions may include any of the following: loan, transfer/exchange, rollover, or cash distributions. Each product provider requires their own form to be submitted. You may request distributions by completing the necessary forms obtained from your investment product provider, other necessary documentation as indicated below and submitting all completed documents to Kazdon for processing.

Note: Once all paperwork in received by Kazdon, the processing time is typically 1 to 3 business days, but Rollover may take longer to process due to the additional information required.

Important: If your rollover or withdrawal request is due to the qualifying event of separation from service your termination date must be verified by your employer. Including a copy of a termination letter from your employer that verifies the date and will help to expedite your request. Failure to include this information may result in delays in processing, as Kazdon will have to request termination date verification from the employer and await response in order to process your request.

Submitting All Requests

All transaction requests should be submitted to Kazdon for processing via fax, mail, or email.

Kazdon, Inc.
Attn: 403 (b) Department
P.O. Box 29927
Austin, Texas 78755
Fax: 1-512-340-0406

Kazdon wants to assist you in the most efficient manner possible. Carefully reviewing all documentation, verifying that you have signed all necessary forms, and verifying that you have included any necessary evidence will help us to reach this goal and avoid delays that are caused by incomplete documentation. Our customer service representatives are available to assist you at 1-877-4kazdon.

Participation in the 403(b) plan is voluntary and should be based on your financial objectives and resources. Individual investment strategies should reflect your personal savings goals and tolerance for financial risk. You may want to consult a tax advisor or financial planner before enrolling. Your Employer and Kazdon are not liable for any loss that may result from your investment decisions.