Retirement
Helpful Resources for Retirement Planning
The Washington State Department of Retirement Systems offers many valuable tools, whether you are just starting out, mid-career, or nearing retirement. You can register for seminars and webinars, use benefit calculators, and apply for your pension. Go to www.drs.wa.gov to get started!
For those nearing retirement, click here, for checklists, seminars and videos.
Thinking of retiring in the next year? DRS has put together a helpful guidance article.
If you have questions please contact Toni Damron at 425.408.7610 or tdamron@nsd.org.
Click here to view the DRS Retirement Planning Checklist
DRS Webinars
To join a webinar, visit the Department of Retirement Systems website and select "join" for the webinar that you wish to attend 10 to 15 minutes before the scheduled start time. No need to register. Most webinars include a 30 minute presentation followed by a 15 minute question and answer session.
Should I Retire July 1st or September 1st?
This will be a decision most will need to make upon retirement. Visit the Department of Retirement Services Webpage for more details to help you with your decision.
Retirement Plan Choice
If you are a new school district employee hired for the first time into a SERS or TRS eligible position, you have an important decision to make about your retirement. You have 90 days from your start date to make your retirement plan choice decision. The choice that you make is permanent.
You can also use the Plan Choice Calculator to get a side by side comparison of what you could expect in retirement, based on what plan you choose, based on your age, pay and how long you plan to work.
Ready to make your plan choice decision? Fill out the Member Information Form and return it to HR.
Optional Retirement Plans
As an employee of Northshore School District, you have the option to participate in two different optional retirement plans, the Deferred Compensation Program, and the 403(b) Plans. These plans allow you to set aside tax-deferred funds for your retirement. Both plans allow you the flexibility to start, stop or change contributions at any time.
To open up a Deferred Compensation Plan, complete the online DCP Participation Agreement.
To open up a 403(b) account, select our state and school district at the National Benefit Services Website. You will be able to choose a Participating 403b Provider (click to view list online), and contact them directly to open your account. Once your account is open, you will need to fill out a Salary Reduction Agreement Form to start the payroll deduction.
New!!! The 403b Plan Salary Reduction Agreement Form can now be submitted to NBS online!
- Go to www.nbsbenefits.com
- Under “Account Access” dropdown select “Retirement Login”, then “Account Access” under Non-ERISA.
- If you are a new user, click on “New User”. Use this specific code to get started, 1134883. If you are a registered user, enter in the Social Security Number (SSN) with no dashes as a username and last 4 numbers of the SSN as a password. Click Login.
- You must create a unique username and password. Please follow the criteria that must be met in order to have a valid username and password. If you forget your username and/or password, please contact NBS by phone at 1(800)274-0503 option 5.
- Submit to continue. You are ready to start, change or cancel your your retirement contributions.
- Click on the link provided specifically for the plan.
- Click “Contribution Amount Change” under the account balance box. Next, click on the check mark in the “Change Elections” box.
- First, select effective date. Click “Include” box to the right. In the drop down provided of the pre-tax and Roth deferrals, select the investment provider you have established an account with. Then input requested monthly dollar contribution amount.
- Read the “disclaimer and disclosures” at the bottom of the screen and mark the checkbox if you agree to the terms & conditions. Click Next.
- Review a summary of the changes and submit. You will be provided a confirmation number informing that NBS has received your request for the online SRA. Click done. Your online SRA has been received by NBS and is currently being processed. Your contributions will take effect for the associated effective date corresponding with the NSD's monthly SRA due date.
- If you would like a copy of your SRA, under “Reports & Forms” click “Reports” then click on the drop down under “Report Group: None”, then click on the “Salary Reduction Agreement” link to download or print any newly sent online SRA’s.
The NBS Northshore School District unique ID is 1134883
Click here to view the Universal Availability Notice, for more information on the 403(b) Plan.
VEBA
Each year your bargaining unit must decide whether to participate in VEBA. If your bargaining unit has agreed to participate, the District will remit to the VEBA Trust your annual and/or your retirement sick leave buy-out payment.
The payment to VEBA is currently non-taxable for social security and federal income tax and the amount is excluded under Internal Revenue Code 419. Therefore, contributions you make to the Trust can save you money on taxes.
You can use your VEBA account to reimburse eligible out-of-pocket healthcare costs and premiums for you, your spouse, and qualified dependents.