School Districts
Retirement planning built for Minnesota educators and public school employees.
There are plenty of choices in building a solid financial foundation, but we know that the last thing teachers have is time to learn retirement and tax planning.
The Scherven Group’s expertise extends to 403(b) and 457 plans and other annuities, with deep experience crafting unique strategies for a diversified approach that puts your money to work in the way that’s best for you.
These are the school districts we serve
If you’re in the education field, download your district’s plan documents below.
| Employer | ID | SRA | Matching Schedule |
|---|---|---|---|
| Brooklyn Center | ISD 286 | ||
| Delano | ISD 879 | ||
| Minnetonka | ISD 276 | ||
| Mound-Westonka | ISD 277 | ||
| Norwood-Young American (Certified) | ISD 108 | ||
| Norwood-Young American (Non-Certified) | ISD 108 | ||
| Orono | ISD 278 | ||
| Osseo | ISD 279 | ||
| Robbinsdale | ISD 281 | ||
| Rockford | ISD 883 | ||
| Waconia | ISD 110 | ||
| Watertown-Mayer — TSA, 9-Month Employees | ISD 111 | ||
| Watertown-Mayer — TSA, 12-Month Employees | ISD 111 | ||
| Watertown-Mayer — TSA Change, 9-Month Employees | ISD 111 | ||
| Watertown-Mayer — TSA Change, 12-Month Employees | ISD 111 |
Don’t see your district? Get in touch and we’ll help you track down the right forms.
What is a 403(b)?
A 403(b) is a retirement savings plan designed specifically for public school employees. They work alongside your pension, helping to fill your retirement income gap. Typically, 403(b) contributions come out of your payroll pre-tax and grow tax-deferred while in the plan, allowing you to stretch your retirement dollars. You only pay taxes when you take it out of the plan.
Most 403(b) plans allow you to change products within the plan to best match your risk profile. If you leave your job, you can take your 403(b) with you, moving your savings to other employer plans or into a traditional IRA. Likewise, you can roll over money from old employers’ retirement plans or IRAs into your 403(b), consolidating your savings into one place.
What is a 457?
Some employers offer a supplemental plan called a 457 or 457(b). This retirement plan is tax-deferred, meaning you don’t pay taxes on your money until withdrawal.
You can save in a 457(b) plan on a tax-deferred basis, while still having access to your money through loans and through unforeseen emergency distributions if the need arises. If your employer offers both a 403(b) plan and a 457(b) plan, contributing the maximum allowed to both plans can maximize your retirement savings.
Don’t miss your retirement savings opportunity.
The earlier you take control of your future and start saving for retirement, the better.
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