Welcome

The Fringe Benefits Consortium Deferred Compensation Program (FBC), serving member districts in San Diego County, Riverside County, and Imperial County, is a retirement program designed to help educators build and grow their savings in order to achieve their retirement dreams.  Select About the Plan to learn more.

2012 Contribution Limits Announced

On October 20, 2012, the IRS announced cost-of-living adjustments (COLAs) affecting the dollar limits for pension plans and other retirement-related items for the 2012 tax year. Many of the retirement and pension plan limitations will change next year because the cost-of-living index met the statutory thresholds that trigger the adjustment. Among the changes, the 402(g) elective deferral contribution limit for employees who participate in 403(b)/401(k) plans has increased from $16,500 to $17,000. The catch-up contribution limit for those age 50 and over remains unchanged at $5,500.  

What does it mean:

 403(b) base limit will be $17,000.00

 457(b) base limit will be $17,000.00

On both the 403(b) and 457(b) plan – if you are age 50 or older you may use the age factor of an additional $5,500.00.

Final 403(b) Regulations Issued by IRS

On July 23, 2007 the Internal Revenue Service (IRS) issued final comprehensive regulations governing 403(b) plans for the first time in 43 years.  The general effective date of the regulations is January 1, 2009--although the effective date of some portions of the regulations is sooner.  We are working with our partner, National Benefit Services, LLC, to interpret the regulations and assess the implications for the Program.  A summary of the regulations is available here.  Additional information will be forthcoming.