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Posted January 31, 2018

Retirement savings plans available for all employees

All employees are eligible to participate.

All employees -- whether full-time, part-time, on an hourly status or substitute teacher -- are be eligible to participate in the voluntary retirement savings plans, either 403(b) or 457(b).

You may enroll in the 403(b) or 457 plans at any time during the year, and your contributions will start with the first paycheck of the month following the date the Employee Benefits Department receives notification of your enrollment from the plan administrator.  Please note that winter break and summer payroll schedules and deadlines can impact the start date of your contributions.  

Contributions for either the 403(b) or 457 plans are taken out of two paychecks per month. There are no contributions deducted from the third paycheck of any month. If there is a pay period when you do not receive a paycheck, or if your paycheck is not enough to withhold your entire voluntary retirement savings account contribution, there will be no contribution from that paycheck.

457(b) Plan

The 457 retirement savings plan is through Nationwide Retirement Solutions. If you are interested in more information about the 457 plan, please contact the Nationwide representative for New Mexico, Clayton Puckett at (505) 362-8814 or .  If you decide you want to enroll in the 457 plan, please contact either Clayton or the Employee Benefits Department for an enrollment form. 

403(b) Plan

There are 34 investment fund vendors that participate in the Albuquerque Public Schools 403(b) Plan. Your first step is to decide upon on investment fund and open an account with that vendor. More information is available on the APS website.

Contact the Employee Benefits Department at (505) 889-4821 or if you need assistance. Please include your APS employee number in your correspondence.

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