Daily Bulletin title

January 23, 2013

Did you miss the “What the Heck is Lecture Capture” session?

Well, you're in luck!  You can watch it here:  http://new.livestream.com/vwcc under "Archived Events".


For more information on how to use Panopto Focus, visit the Media Geeks "Unofficial" Official website at https://sites.google.com/site/vwmediageeks/home

For more information on using Panopto with Blackboard, you should work with the Department of Distance Learning and Instructional Technology (DL&IT): http://www.virginiawestern.edu/distance/index.php

As always, if you're in the classroom and need help with Panopto, or any other classroom technology, call or email the Help Desk (76230 from any campus phone, or helpdesk@virginiawestern.edu) and they will dispatch a Media Geek to assist you!

Annual Notice for the 403b Tax Sheltered Annuity Plan

Virginia Western Community College is a tax-exempt public education institution eligible to offer a retirement savings program as described under section 403(b) of the Internal Revenue Code (commonly referred to as a “403(b) Plan”). This notice is to make you aware of the 403(b) Plan and provide enrollment information. Under the 403(b) Plan, employees may contribute on a pre-tax basis to a 403(b) account, in which any investment earnings grow tax-deferred until they are distributed. The employee is responsible for investigating and selecting an investment service provider (a “vendor”) from among the vendors available under the 403(b) Plan and selecting from the investments offered by the vendor. Understanding the tax and investment consequences of the custodial account or annuity selected is your responsibility. You may seek investment, legal, or tax advice if desired.  IRS Publication 571 (Tax Sheltered Annuity Programs for Employees of Public Schools) is available at www.irs.gov (the IRS’s website) for further information and reference.

Who is eligible to participate: Generally, all full-time employees are eligible to participate in the 403(b) Plan. Persons occupying an elective or appointive public office are one exception; they are not employees performing services for a public school unless such office is one to which an individual is elected or appointed and only if the individual has received training, or is experienced, in the field of education. In addition, regular part-time education employees, adjunct faculty and other employees who routinely work 20 or more hours per week are eligible to participate in the 403(b) Plan.

Cancellation by the Employee: You have the right to cancel your future 403(b) contributions at any time. To do so, contact Human Resources and complete any required form(s) to discontinue salary reductions.

Termination of Payroll Deduction: In certain circumstances we may automatically stop your 403(b) contributions. If your contributions will exceed the IRS annual contribution limit, we will automatically terminate payroll deductions to prevent excess contributions. If the college is notified it has no record of your account, deductions will be stopped until the problem is resolved.

Annual Contribution Limits: The contribution limit, set annually by the IRS, is $17,500 for 2013.  Employees 50 years and older may contribute $23,000 for 2013. Also, if you have at least 15 years of service and/or you are at least 50 years of age by the end of the year, you may qualify for special catch-up provisions. Your contribution cannot be less than $200 per year.

Vendors (Investment Providers) for Virginia Western Community College: Ameriprise Financial, AXA Equitable, TIAA-CREF, and VALIC.

Required Form: To initiate payroll deductions to a 403(b) account you must execute a Salary Reduction Agreement (SRA). The SRA should be completed by you with your agent, and returned to Denise Schuh in Human Resources for processing. There are other documents, which are to be executed between you and the vendor and if you are eligible for the cash match, a cash match agreement form must be completed.

This notice should not be regarded as tax or legal advice.  We cannot provide you with tax or legal advice.  Virginia Western Community College does not endorse, recommend or guarantee the 403(b) investment offered by the vendor.  Please contact your financial representative or tax professional with any questions.