CalSTRS offers 403(b) plan administration services to public school districts and other education agencies through a contract with a third-party administrator (TPA). The TPA is required to be totally independent of any 403(b) sales in the employer’s plan, including through any affiliated companies. CalSTRS selected TCG Administrators through a competitive proposal process to offer the 403(b) TPA services. These services are a part of the CalSTRS403bComply program. A 403(b) plan is a way for employees of school districts and certain other tax-exempt organizations to save funds for retirement and other long-term financial needs. The payroll deductions can be contributed to the plan on a tax-deferred basis. This reduces current income tax and allows the money in the plan to grow untaxed until money is distributed to the participant. The rules for administering a 403(b) plan are complex. The rules also impose significant compliance duties on the employer.
TCG Administrators is a fee-based third-party administrator located in Austin, Texas specializing in the servicing of employee benefit plans for public school districts and other governmental employers since 2000. TCG Administrators specializes in high quality employee benefit services using state of the art technology.
In addition, TCG Administrators has experienced personnel that provide plan implementation guidance, ongoing plan compliance and maintenance for qualified and nonqualified plans.