Retirement

Washington State Department of Retirement Systems
Eligible employees of Colville School District participate in one of two plans offered by Washington State DRS: school employees (SERS) or teachers (TRS), you have a choice to make that will set the course for your future retirement benefits. 
Washington Teachers' Retirement System (TRS) 
Washington School Employees' Retirement System (SERS)


Washington State Deferred Compensation Program (457b)

The Deferred Compensation Program (DCP) is a special type of savings program that helps you invest for the retirement lifestyle you want to achieve — a lifestyle that might be hard to reach with just your pension and Social Security.

Deferred Compensation Program (DCP) 
DCP Enrollment Guide 



US OMNI 403b Plans

What is a 403(b) Plan? 
A 403(b) plan is a tax sheltered retirement savings plan. Eligible employees can contribute pre-tax dollars to their plan, which are invested in either an annuity contract or custodial account (mutual fund). Contributions will be allowed to grow tax free until the funds in question are withdrawn (usually at retirement, although it may be possible to access your funds prior to retirement in certain circumstances). The OMNI Group strongly recommends that you seek the input of a financial professional to select the proper
investments to meet your retirement planning goals.

Why should I contribute? 
403(b) plans can play a vital role in building a secure retirement. The value of your investments may increase based upon fund performance and other factors, making it possible to build account balances that far exceed the amounts withdrawn from your paycheck. It is also important to remember that your taxable income will be lowered in proportion to the amount you choose to defer, minimizing the
impact to your take home pay.


Who is eligible to contribute to a 403(b) Plan? All full time employees are eligible. Part time employees may or may not be eligible, depending on the specifics of your employer's plan.

How do I contribute? 
Your first step will be to contact a participating 403(b) investment provider to establish your investment account. A list of participating investment providers for your employer is available on OMNI's website at www.omni403b.com. After working with your provider to establishyour account and select investment vehicle(s), you will then need to complete an OMNI online Salary Reduction Agreement (SRA) to
initiate your deductions.

Who/what is The OMNI Group? Do I need to invest with OMNI?

OMNI is a Third Party Administrator (TPA) of 403(b) plans. We work with your employer to help ensure compliance with IRS regulations governing the operation of 403(b) plans. OMNI also helps your employer remit 403(b) contributions to participating service providers. OMNI is NOT an investment provider- we do not offer and cannot recommend any specific investment vehicle.




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