Introduction to Our New 403(b) Retirement Savings Plan Arriving in Homes Soon!

As we shared recently in our Dec. 1 Compass post, ACPS is getting its first official 403(b) retirement savings plan. We anticipate that employees will be able to make contributions to the new plan as of the February 17 payroll.

In the next few days, employees will receive a communication via U.S. Mail that will briefly introduce the new plan and the record-keeper for the plan, Lincoln Financial Group. Continue reading →

When “Positive Pay” was implemented as part of the Payroll Clarity Project in January 2022, we determined that there would be situations in which many 10/11-month, non-exempt (overtime-eligible) regular employees would not have scheduled work for an entire pay period. In response, the school board appropriated funds to support our 10/11-month non-exempt staff so that all regular, non-exempt staff would be eligible for pay for at least five (5) days in all two-week pay periods during the school year. In the current school year, these funds provide for up to six (6) additional days of pay for these impacted staff members.

Here is what this means for the 2022-23 school year: Continue reading →

You may recall that Human Resources has been working on new retirement savings options. We are excited to share more information about one of those options! After a thorough Request for Proposal and evaluation process, we are pleased to announce that Lincoln Financial Group has been selected as the sole service provider for our new ACPS 403(b) retirement plan. Our transition to Lincoln will bring best-in-class services, a significant reduction in overall fees, and state-of-the-art retirement readiness tools.

For all 403(b) participants, we anticipate a greatly enhanced experience with Lincoln to further help you save and plan for your future, including: Continue reading →

If you are currently an active (full-time) member of the Virginia Retirement System (VRS), your ONE-TIME opportunity to either newly enroll in or enhance your optional life insurance protection through VRS/Securian Financial without undergoing medical underwriting expires this Wednesday, November 30.

Did you know? If you have this coverage in place for the 5 years immediately prior to your retirement, you can keep it (subject to limitations) at low group rates into your retirement. If you’re looking for affordable optional life insurance coverage, don’t let this opportunity pass you by! Continue reading →

It’s not too late to complete your Open Enrollment session! As a reminder, ALL benefits-eligible employees are required to log in to the ADP Open Enrollment module and either waive or elect benefits (like medical and dental coverage) for 2023. Open Enrollment closes tonight at 11:59 p.m.

Failure to complete Open Enrollment will result in loss of coverage as of December 31, 2022, if you are currently enrolled in our medical or dental plan. Continue reading →

Given the unexpected school closure today, we are extending the deadline for completing the Open Enrollment process (required for ALL benefits-eligible employees) until Wednesday, November 16. This one-day extension helps ensure that all benefits-eligible employees have sufficient access to the technology needed to complete their selections in the ADP Open Enrollment module. Continue reading →