Benefits information for temporary employees, including student workers, federal work-study, and temporary classified employees.
Retirement Savings Plans
As an employee of an educational institution, you may participate in a tax-deferred retirement savings program.
Through these programs, you can save a portion of your pay before federal and state income taxes. Funds are only taxed when withdrawn (usually at retirement – you may face penalties for early withdrawals). There is risk associated with 403(b) and 457 programs, as fund are not insured and are subject to earnings (or losses) based on investment choices and market performance.
Your investment vendor must be listed on the CalSTRS website, 403bcompare.com.
For the 457 plan, specific companies are eligible for Los Rios' program: CalPERS, CalSTRS, Schools Financial Credit Union, and TIAA-CREF. CalPERS members may invest in the CalSTRS 457 program, and CalSTRS members may invest in the CalPERS 457 program.
Visit the Envoy Plan Services website for a list of eligible companies.
You must first establish a 403(b) or 457 account under Los Rios with one of the companies on the approved vendor list. Once you select a company, ask for information on their 403(b) or 457 plan. They will provide an account application for you to complete.
During this process, complete the online Salary Reduction Agreement (SRA) on the Envoy website. This form provides the necessary information for Los Rios to initiate your payroll deduction.
You may enroll or change your deduction any time by submitting a new online SRA form to Envoy, but are subject to month-to-month cut-off dates to meet specific IRS and payroll deadlines. Please keep copies of all forms you submit.
The 2025 maximum contribution for 403(b) and 457 plans is $23,500 per calendar year for employees under age 50, and $31,000 per calendar year for employees aged 50 or over as of the last day of the year. These plans have separate limits, so you may contribute twice the amount listed if contributing to both types of plans.