Green Dot Public Schools is committed to supporting your financial well-being — today and tomorrow. We offer either a 401(k) plan or a pension plan to help you prepare for a secure retirement. You can only participate in one Green Dot Public Schools retirement plan. If you are enrolled in a Green Dot Public Schools pension plan, you are not eligible to participate in the Green Dot Public Schools 401(k) plan. Conversely, if you are enrolled in the Green Dot Public Schools 401(k) plan, you are not eligible to participate in a Green Dot Public Schools pension plan.
Our 401(k) Plan, administered by Fidelity, helps you prepare for retirement by offering an easy, tax-advantaged way to save for your future financial needs.
You are eligible to make employee contributions to the 401(k) Plan on the first day of the month following 30 days of employment. After one year of employment, Green Dot will begin to match your contributions 100%, up to a maximum of 4% of your eligible pay that you contribute to the plan. To enroll, visit Fidelity or call 800.835.5097.
To enroll in the Green Dot 401(k) plan, you must first confirm your eligibility to participate with HR. Once HR has confirmed your eligibility, visit Fidelity to enroll.
To support your retirement saving efforts, Green Dot matches 100% of your contributions to the plan, up to 4% of your eligible pay, after you complete one year of service in which you worked at least 1,000 hours during a 12-month period, beginning with your date of hire and ending with your date of hire anniversary. Note: If you are enrolled in any of the following pension plans through Green Dot, you are not eligible for the 401(k) match: CalSTRS; CalPERS; Tennessee Consolidated Retirement System (TCRS).
Here’s how the company match works:
You may contribute between 1% and 100% of your eligible pay to your 401(k) Plan account, up to annual IRS limits.
The 401(k) Plan gives you the flexibility to save for retirement in a variety of ways. You can make before-tax contributions, Roth after-tax contributions, or a combination of the two.
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It’s not too late to make up for lost time. If you’ll be 50 or older this year, take advantage of the opportunity to contribute up to an additional $6,500 in 2020.
Visit the Fidelity website to manage your 401(k) account:
The Green Dot Public Schools 401(k) Plan gives you the flexibility to save for retirement in a variety of ways. You can make before-tax contributions, Roth after-tax contributions, or a combination of the two.
Before-Tax Contributions | Roth After-Tax Contributions |
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Keep in mind that company contributions are made on a before-tax basis, no matter which contribution type(s) you select. |
Vesting is another way of saying “how much of the money is yours to keep if you leave the company.” You are always 100% vested in your own contributions, including any investment gains and losses on the money. You are 100% vested in the matching contributions you receive from Green Dot after you complete one year of service.
It's important to designate a beneficiary to receive the value of your 401(k) account in the event you die before beginning to receive your benefit. As personal circumstances change, be sure to keep that information up-to-date. Visit Fidelity to add or change a beneficiary.
The money in your account is intended as a long-term investment to help you prepare for your financial needs in retirement. However, under certain circumstances, you may be able to access money from your account before reaching retirement age. For more information, visit Fidelity or call 800.835.5097.
Besides access to online transactions and account information, your plan’s website offers a wealth of planning resources. Visit Fidelity for:
For assistance, call the Fidelity Retirement Benefits Line at 800.835.5097.
Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges, and expenses. Call 800.835.5097 for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully. Investing involves risk, including the risk of loss.
CalSTRS provides retirement, disability, and survivor benefits for full-time and part-time California public school educators through a hybrid retirement system consisting of its Defined Benefit, Defined Benefit Supplement, and Cash Balance Benefit programs, and a voluntary defined contribution plan called CalSTRS Pension2.
You are eligible for the CalSTRS pension plan if you are in a certificated position that requires a credential. For example, typically all teachers and administrators require credentials. Learn more about eligibility for CalSTRS.
myCalSTRS is your online resource for managing your personal information on file with CalSTRS. You must register for an account to have access. Visit myCalSTRS to register today.
Visit the CalSTRS website to manage your CalSTRS account:
CalSTRS contributions
View the current employer and employee contribution rates.
It's important to designate a beneficiary to receive the value of your CalSTRS account in the event you die before beginning to receive your benefit. As personal circumstances change, be sure to keep that information up-to-date. Visit CalSTRS to add or change a beneficiary.
CalSTRS tools and resources
Besides access to online transactions and account information, your plan’s website offers a wealth of planning resources. Visit CalSTRS for:
CalPERS is a defined benefit plan funded by employee contributions, employer contributions, and earnings made on CalPERS investments. Most employees contribute a percentage of their salary, which accrues interest under their individual CalPERS account.
You are eligible for the CalPERS pension plan if you are in a school site position/employee, including facilities associates, which is not covered under CalSTRS. As a member, you receive a lifetime monthly pension check once you become eligible, or you may choose to withdraw your contributions and interest if you no longer work for a CalPERS-covered employer.
Your CalPERS benefit is based on a formula using your:
Learn more about CalPERS.
Visit the CalPERS website to manage your CalPERS account:
CalPERS contributions
View the current employer and employee contribution rates.
It's important to designate a beneficiary to receive the value of your CalPERS account in the event you die before beginning to receive your benefit. As personal circumstances change, be sure to keep that information up-to-date. Visit CalPERS to add or change a beneficiary.
CalPERS Education Center
Whether you're in the early stages of your career or getting ready to retire, visit the CalPERS Education Center in my|CalPERS to:
The Tennessee Consolidated Retirement System (TCRS) is designed to provide three types of benefits: retirement benefits, disability benefits, or survivor benefits. This coverage grows in value each year you teach.
All full-time teachers are covered by Group I of the retirement system as a condition of employment. As a teacher, you are required to contribute 5% of your salary to the retirement system. Contributions are made on a tax-deferred basis. Learn more about TCRS.
Log in to your Self Service account on the TCRS website to: