CCPS offers 3 great ways to save for the future!

403(b) Savings Plan
Roth 403(b) Savings Plan
457(b) Deferred Compensation Plan
 
All of these plans provide an opportunity for employees to save money for retirement through payroll deductions. The traditional 403(b) and 457(b) contributions are tax deferred (pre-tax) meaning the amount contributed is excluded from Federal and Maryland State income tax at the time of contribution. The Roth 403(b) is an after-tax retirement option. You pay taxes on the money you set aside now, but the growth and future withdrawals are tax free for qualified distributions.
 

Signing up is easy! Your first step is to contact our approved vendor, Lincoln Financial Group. Lincoln Financial's representatives are happy to provide you their investment choices, help you decide which plan and which investments are right for you, and answer any other questions you may have.
 

LINCOLN FINANCIAL GROUP

307 International Circle
Suite 390
Hunt Valley, MD  21030
 

Stacey Spedden-Irrgang

Elaine Norris

Harriet Doherty

410-771-5430

866-347-6851

410-771-5422

Stacey.Spedden@LFG.com

Elaine.Norris@LFG.com

Harriet.Doherty@LFG.com

Central Office

Career & Tech Center

Carroll Springs

Century High

Elmer Wolfe Elementary

Carrolltowne Elementary

Cranberry Station

FSK High

Crossroads Middle

Ebb Valley Elementary

Mt. Airy Elementary

Eldersburg Elementary

Hampstead Elementary

Mt. Airy Middle

Freedom Elementary

Linton Springs Elementary

Northwest Middle

Friendship Valley Elementary

Manchester Elementary

Outdoor School

Gateway School

Manchester Valley High

Parr’s Ridge Elementary

Liberty High

North Carroll Middle

Robert Moton Elementary

Mechanicsville Elementary

Sandymount Elementary

Runnymede Elementary

Oklahoma Road Middle

Shiloh Middle

Taneytown Elementary

Piney Ridge Elementary

Spring Garden Elementary

Westminster East Middle

South Carroll High

Winters Mill High

Westminster Elementary

Sykesville Middle

Retirees and Past Employees

Westminster High

Winfield Elementary

 

Westminster West Middle

 

 

William Winchester Elem

 


There aren't any paper salary reduction agreements! You should submit salary deferral amounts directly to Lincoln Financial Group.  You can do this online at  www.LincolnFinancial.com  24 hours per day OR by contacting Lincoln Customer Service at 1-800-234-3500, Monday through Friday, from 8:00 a.m. to 8:00 p.m. Eastern Time.  

How To Register Your Lincoln Account Online
Go to LincolnFinancial.com/Register. Follow the prompts; the whole process takes only about 3 minutes of your time. Once registered, you can take full advantage of your retirement planning resources, including educational articles, videos, calculators and planning tools.

FAQ

Who is eligible to participate?

All CCPS employees, with the exception of CCPS student interns, are eligible to participate in both plans.
 
When can you enroll?
You are eligible to enroll immediately upon your date of hire.
 
How are contributions made?
Contributions are made via payroll deduction.  You determine the amount. You can increase, decrease, or discontinue your contribution amount at any time. 
 
What is the maximum amount that you can contribute?
The IRS limits the annual contributions you can make and the limits are adjusted each year. Below are the limits for 2017:
  • Elective Deferral Limit $18,000
  • Age 50 Catch-up Limit $ 6,000
 When can you withdraw funds from your TSA account?
You can withdraw money (after meeting all necessary criteria) from your pre-tax 403(b) or 457(b) account when any one of the following events occur:
- 403(b) only: Attainment of age 59½  
- Retirement
- Death
- Total and Permanent Disability
- Separation from employment
- 403(b) only: Financial hardship withdrawal
- 457(b) only: Unforeseeable emergency
 
For Roth 403(b) contributions, in order to receive a Qualified Distribution of earnings (no tax due) you must meet BOTH of these qualifying events:
- Your account must be open for 5 years.
- Separation from employment