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403(b) vendor contract amended so existing teacher accounts can remain with current providers; USI to be third‑party administrator for new accounts
3193874 · May 6, 2025
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.
Summary
Board staff reported a contract amendment with USI Consulting Group that allows teachers with existing 403(b) accounts at current vendors to keep those accounts; USI will be the single vendor for new accounts and third‑party administrator for the district.
District staff briefed the board May 5 on a proposed contract with USI Consulting Group to serve as the third‑party administrator for the district’s 403(b) plan and said USI amended its offer after vendor discussions.
Under the amendment described by district staff, employees who already have accounts with the district’s two…
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