Employee Retirement Savings Plans

  • All CUSD employees (full time, part time, substitutes, and on-call) are eligible to participate in two pre-tax retirement savings plans through payroll deduction - the 403(b) tax deferred annuity plan and the 457(b) deferred compensation plan.

    All CUSD staff will need to work directly with the provider to open an account and complete the enrollment process.  Choose a company from the following approved lists and contact the provider for enrollment forms and instructions.  

    403(b) Vendors 

    • (type "Cupertino" under "Find Employer")

    457(b) Vendors

    • AIG VALIC   (408) 981-8179
    • Fidelity Retirement - Plan #08243   (800) 343-0860
    • Forester's Financial/First Investors   (408) 452-4200 ext. 205

    Once the account is active, complete and submit the SRA, Salary Reduction Agreement (see below) to Payroll by the 10th of the month to start payroll deduction on that month's payroll:

    For 2019, the limit on elective deferrals (the maximum amount staff can contribute to a 403(b) account out of salary) is $19,000.  For staff who are age 50 or above at the end of the calendar year, they can also make catch-up contributions of $6,000 in 2005-2009 beyond the basic limit on elective deferrals.  Click here for details on this contribution rule.

    Questions?  Contact Payroll Manager Victor Perlas at (408) 252-3000 x61222, or Payroll Analyst Dora Ruiz at (408) 252-3000 x61223.