Pension and Retirement Savings Plans

Pension and Retirement Savings Plans

Saving for retirement is a critical component of your long-term financial health. OUSD provides several layers of retirement security, ranging from mandatory public pension plans to voluntary tax-advantaged savings accounts.

PLEASE NOTE: OUSD Benefits staff cannot advise you on setting up or managing any savings plans! OUSD is not a financial advisor and will not act in that role for employees. Management of your savings is very personal and our providers and these public pension plans all have expert advice available.

1. Public Pension Plans

All OUSD employees are automatically enrolled in a defined-benefit pension plan. These plans provide a guaranteed monthly payment for life once you retire, based on your years of service, age, and final salary.

• CalSTRS (Certificated Employees): The California State Teachers’ Retirement System is for teachers, administrators, and other certificated staff.

   

  • Social Security Note: Certificated employees generally do not contribute to Social Security while working at OUSD.

  • 800-228-5453

• CalPERS (Classified Employees): The California Public Employees’ Retirement System is for office staff, custodians, para-educators, and other classified roles.

   

  • Social Security Note: Classified employees do contribute to Social Security in addition to their CalPERS pension.

  • 888-225-7377 (888-Cal-PERS)

• PARS (Alternative Retirement): The Public Agency Retirement System is for employees who work less than .25 FTE or are in hourly/temporary positions. It serves as an alternative to Social Security.

2. Voluntary Tax-Sheltered Annuities (403b & 457)

To bridge the "retirement gap"—the difference between your pension and your current income—OUSD offers two voluntary savings options: the 403(b) and the 457(b). Both allow you to save pre-tax or Roth (post-tax) dollars via payroll deduction.

3. Supplemental Annuities

In addition to your pension, OUSD offers a Supplemental Annuity to qualifying employees in specific bargaining units. These accounts are managed by Third-Party Administrators (TPAs).

• For Classified Employees: 

  • BeneSys Administrators (effective 09/01/2016)
    7180 Koll Center Parkway, Suite 200
    Pleasanton, CA 94566
    (925) 398-7045 Main
    (877) 494-0522 Toll Free
    (925) 462-0108 Fax

  • Hours of Operations: Monday - Friday, 8:00am to 4:30pm

• For Certificated Employees: 

  • Tom Curtin
    Plan Manager
    4160 Dublin Blvd., Suite 400
    Dublin, CA 94568
    (866) 376-2307 Main
    (925) 833-7301 Fax

4. How to Manage Your Savings

While OUSD facilitates these plans, the district cannot provide financial or investment advice. You must manage your accounts directly through the appointed administrators.

• TCG Administrators: The Third-Party Administrator for all 403(b) and 457(b) plans.

  • Website: tcgservices.com

  • Phone: (800) 943-9179

     

• Retirement Planning: Visit www.calstrs.com or www.calpers.ca.gov to run retirement estimates and schedule personal counseling sessions.

Support Resources

• Benefits Drop-in Support: Thursdays from 3:30 PM – 4:30 PM via Zoom.

• Frontline ERP (Escape) Employee Portal: Log in to view your current payroll deductions and check your retirement plan enrollment status.

Disclaimer

OUSD Benefits staff are not financial advisors and cannot advise you on setting up or managing these savings plans.. Employees should consult with a tax professional or certified financial planner before making significant changes to their retirement contributions. Contribution limits are set by the IRS and may change annually.