Mt. Angel School District participates in the Public Employees Retirement System. Everyone with at least 600 hours of service per calendar year is automatically a member of the syste. PERS is funded with employer and employee contributions. Mt. Angel School District "picks up" the employee contribution for all regular employees. Substitute employees' contributions are done through payroll deduction.
Direct deposit of net pay is required for all newly hired employees. Current employees also will have net checks direct deposited but may also deduct specific amounts from net pay for electronic deposit into an additional checking or savings account.
Employees are eligible for several benefit plans including 403(b) and deferred compensation retirement savings plans, flexible spending plans, and group health insurance. Automatic payroll deduction is available for employee contributions to these plans.
Tax sheltered annuity vendors should be familiar with the Solicitations Rules for Retirement Plan Investment Providers. American Fidelity Assurance Company is the district’s third party administrator for 403(b) retirement savings plans. All requests for exchanges, transfers, and withdrawals must be approved by them. Approved vendors.
American Fidelity Assurance Company administers the school district’s Section 125 Flexible Spending Accounts. With these accounts employees can use pretax wages to help for pay their share of group insurance premiums, unreimbursed medical expenses and dependent care expenses. Employees may also purchase life, cancer, disability and other insurances through payroll deduction. Enrollment begins in the spring for the following school year after information is presented at staff meetings.