bartholomew consolidated schools 403(b) plan 401(a) plan vebahsa2015

Bartholomew Bartholomew Consolidated SchoolsConsolidated Schools

403(B) Plan403(B) Plan

401(A) Plan401(A) Plan

VEBAVEBA

HSAHSA

20152015

Two BrothersTwo Brothers BenBen

Graduated from college, started teaching, and got Graduated from college, started teaching, and got married at 22married at 22

Had 2 children within the next 7 yearsHad 2 children within the next 7 years Wife stayed home after second child; went back to work Wife stayed home after second child; went back to work

after second child went to high schoolafter second child went to high school JustinJustin

Also graduated from college, started teaching, and got Also graduated from college, started teaching, and got married at 22married at 22

Had 2 children within the next 3 years; wife stayed homeHad 2 children within the next 3 years; wife stayed home When kids started KG, wife started careerWhen kids started KG, wife started career

ANNUITY GROWTH CHART- TWINS

Assume growth of 9%Ben Justin

Year Age Deposit Deposit1 22 2,000$ -$ 2 23 2,000$ -$ 3 24 2,000$ -$ 4 25 2,000$ -$ 5 26 2,000$ -$ 6 27 2,000$ -$ 7 28 2,000$ -$ 8 29 2,000$ -$ 9 30 -$ 2,000$ 10 31 -$ 2,000$ 11 32 -$ 2,000$ 12 33 -$ 2,000$ 13 34 -$ 2,000$ 14 35 -$ 2,000$ 34 55 -$ 2,000$ 35 56 -$ 2,000$ 36 57 -$ 2,000$ 37 58 -$ 2,000$ 38 59 -$ 2,000$ 39 60 -$ 2,000$ 40 61 -$ 2,000$ 41 62 -$ 2,000$

ANNUITY GROWTH CHART- TWINS

Assume growth of 9%

Year Age Deposit Accum Deposit Accum1 22 2,000$ 2,180$ -$ -$ 2 23 2,000$ 4,556$ -$ -$ 3 24 2,000$ 7,146$ -$ -$ 4 25 2,000$ 9,969$ -$ -$ 5 26 2,000$ 13,047$ -$ -$ 6 27 2,000$ 16,401$ -$ -$ 7 28 2,000$ 20,057$ -$ -$ 8 29 2,000$ 24,042$ -$ -$ 9 30 -$ 26,206$ 2,000$ 2,180$ 10 31 -$ 28,564$ 2,000$ 4,556$ 11 32 -$ 31,135$ 2,000$ 7,146$ 12 33 -$ 33,937$ 2,000$ 9,969$ 13 34 -$ 36,992$ 2,000$ 13,047$ 14 35 -$ 40,321$ 2,000$ 16,401$ 34 55 -$ 225,975$ 2,000$ 203,446$

35 56 -$ 246,313$ 2,000$ 223,936$ 36 57 -$ 268,481$ 2,000$ 246,271$ 37 58 -$ 292,644$ 2,000$ 270,615$ 38 59 -$ 318,982$ 2,000$ 297,150$ 39 60 -$ 347,691$ 2,000$ 326,074$ 40 61 -$ 378,983$ 2,000$ 357,601$ 41 62 -$ 413,092$ 2,000$ 391,965$

Ben Justin

ANNUITY GROWTH CHART- TWINS

Assume growth of 9%

Year Age Deposit Accum1 22 2,000$ 2,180$ 2 23 2,000$ 4,556$ 3 24 2,000$ 7,146$ 4 25 2,000$ 9,969$ 5 26 2,000$ 13,047$ 6 27 2,000$ 16,401$ 7 28 2,000$ 20,057$ 8 29 2,000$ 24,042$ 9 30 2,000$ 28,386$ 10 31 2,000$ 33,121$ 11 32 2,000$ 38,281$ 12 33 2,000$ 43,907$ 13 34 2,000$ 50,038$ 14 35 2,000$ 56,722$ 34 55 2,000$ 429,422$ 35 56 2,000$ 470,249$ 36 57 2,000$ 514,752$ 37 58 2,000$ 563,260$ 38 59 2,000$ 616,133$ 39 60 2,000$ 673,765$ 40 61 2,000$ 736,584$ 41 62 2,000$ 805,056$

Ben

All BCSC employees are eligible for 403(b) All BCSC employees are eligible for 403(b) salary reduction.salary reduction.

Deductions are taken out of 20 pays for non-Deductions are taken out of 20 pays for non-contracted and non-year-round employeescontracted and non-year-round employees

Deductions are taken out of 26 pays for Deductions are taken out of 26 pays for contracted and year-round employees.contracted and year-round employees.

All 3 vendors- Metlife, Valic, and Aspire- will All 3 vendors- Metlife, Valic, and Aspire- will have reps visiting the buildings after the start of have reps visiting the buildings after the start of schoolschool

You can also call and schedule an appointment You can also call and schedule an appointment if you missed themif you missed them

No hardship withdrawalsNo hardship withdrawals No loansNo loans No catchup deferralsNo catchup deferrals Blank salary reduction agreement on BCSC Blank salary reduction agreement on BCSC

website; reps will have copieswebsite; reps will have copies

403(B)

403(B) Investment Choices403(B) Investment Choices

METLIFEMETLIFE Annuities (57 choices)Annuities (57 choices)

$30 Account Fee$30 Account Fee .50% Mortality Fee.50% Mortality Fee No Surrender Fee (except fixed fund)No Surrender Fee (except fixed fund)

Mutual Funds (29 choices)Mutual Funds (29 choices) .28% Account Fee + expense ratio of fund(s).28% Account Fee + expense ratio of fund(s)

403(B) Investment Choices403(B) Investment Choices

VALICVALIC Annuities (29 choices)Annuities (29 choices)

No Account FeeNo Account Fee .75-1.25% Mortality Fee.75-1.25% Mortality Fee No Surrender Fee (except fixed fund)No Surrender Fee (except fixed fund)

Mutual Funds Mutual Funds (Internet Only) (Internet Only) (90 choices)(90 choices) $40 Account Fee + expense ratio of fund(s)$40 Account Fee + expense ratio of fund(s)

403(B) Investment Choices403(B) Investment Choices

ASPire (403b ASP)ASPire (403b ASP) $40 Account Fee + .10% Management Fee + $40 Account Fee + .10% Management Fee +

expense ratio of fund(s)expense ratio of fund(s) 40 Mutual Funds through Edward Jones40 Mutual Funds through Edward Jones Option of Self-directing through 403(b) ASP Option of Self-directing through 403(b) ASP

(Internet Only)(Internet Only)

Thousands of mutual funds to choose fromThousands of mutual funds to choose from Apply on the Aspire website Apply on the Aspire website When account is set up, fill out a BCSC salary reduction When account is set up, fill out a BCSC salary reduction

agreement, sign, and send to Business Officeagreement, sign, and send to Business Office No rep or broker to work withNo rep or broker to work with

ROLLOVERS, EXCHANGES, AND ROLLOVERS, EXCHANGES, AND TRANSFERSTRANSFERS

RolloversRollovers- monies from a previous employer - monies from a previous employer 403(b) or similar plan; check was received403(b) or similar plan; check was received

TransfersTransfers- monies from a previous employer - monies from a previous employer 403(b) or similar plan; directly sent to new 403(b) or similar plan; directly sent to new 403(b) vendor (no cash or check involved)403(b) vendor (no cash or check involved)

Check to see if there are any surrender charges Check to see if there are any surrender charges from the vendor losing the fundsfrom the vendor losing the funds

401(A)401(A)

BCSC matches up to 3% of your base salaryBCSC matches up to 3% of your base salary Monies are sent to Metlife regardless of your Monies are sent to Metlife regardless of your

403(B) vendor403(B) vendor An account will be set up with Metlife for the An account will be set up with Metlife for the

401(A) match401(A) match You invest the monies just like you would in You invest the monies just like you would in

your 403(B)your 403(B) 5 year vesting5 year vesting

403(b) 401(a) 9%

2% 3% 3% (Assumed grow th)

YEARS IN (Assumed grow th) EMPLOYEE EMPLOYER TOTAL TOTALEDUCATION AGE SALARY CONTRIBUTION MATCH CONTRIBUTION VALUE

0 22 36,000$ 1,080.00$ 1,080.00$ 2,160.00$ 2,257.20$ 1 23 37,369$ 1,121.06$ 1,121.06$ 2,242.12$ 4,803.37$ 2 24 38,777$ 1,163.31$ 1,163.31$ 2,326.62$ 7,666.99$ 3 25 40,228$ 1,206.84$ 1,206.84$ 2,413.67$ 10,879.31$ 4 26 41,720$ 1,251.60$ 1,251.60$ 2,503.19$ 14,474.28$ 5 27 43,256$ 1,297.68$ 1,297.68$ 2,595.36$ 18,489.12$ 6 28 44,837$ 1,345.12$ 1,345.12$ 2,690.23$ 22,964.43$ 7 29 46,465$ 1,393.96$ 1,393.96$ 2,787.92$ 27,944.60$ 8 30 48,139$ 1,444.18$ 1,444.18$ 2,888.35$ 33,477.94$

18 40 66,851$ 2,005.52$ 2,005.52$ 4,011.04$ 133,780.22$ 28 50 81,491$ 2,444.72$ 2,444.72$ 4,889.44$ 386,845.07$ 38 60 99,337$ 2,980.10$ 2,980.10$ 5,960.20$ 1,001,301.55$ 39 61 101,323$ 3,039.70$ 3,039.70$ 6,079.40$ 1,097,771.67$ 40 62 103,350$ 3,100.50$ 3,100.50$ 6,200.99$ 1,203,051.15$

9%

2% 3% 3% (Assumed grow th)

YEARS IN (Assumed grow th) EMPLOYEE EMPLOYER TOTAL TOTALEDUCATION AGE SALARY CONTRIBUTION CONTRIBUTION CONTRIBUTION VALUE

0 22 36,000$ 1,080.00$ 1,080.00$ 2,160.00$ 2,257.20$ 1 23 36,720$ 1,101.60$ 1,101.60$ 2,203.20$ 4,762.69$ 2 24 37,454$ 1,123.63$ 1,123.63$ 2,247.26$ 7,539.73$ 3 25 38,203$ 1,146.10$ 1,146.10$ 2,292.21$ 10,613.66$ 4 26 38,968$ 1,169.03$ 1,169.03$ 2,338.05$ 14,012.15$ 5 27 39,747$ 1,192.41$ 1,192.41$ 2,384.81$ 17,765.38$ 6 28 40,542$ 1,216.26$ 1,216.26$ 2,432.51$ 21,906.24$ 7 29 41,353$ 1,240.58$ 1,240.58$ 2,481.16$ 26,470.61$ 8 30 42,180$ 1,265.39$ 1,265.39$ 2,530.78$ 31,497.64$ 18 40 51,417$ 1,542.51$ 1,542.51$ 3,085.01$ 118,820.62$ 28 50 62,677$ 1,880.31$ 1,880.31$ 3,760.61$ 335,237.33$ 38 60 76,403$ 2,292.08$ 2,292.08$ 4,584.17$ 859,388.17$ 39 61 77,931$ 2,337.92$ 2,337.92$ 4,675.85$ 941,619.37$ 40 62 79,489$ 2,384.68$ 2,384.68$ 4,769.37$ 1,031,349.10$

BARTHOLOMEW CONSOLIDATED SCHOOLS403(B) VENDORS

METLIFE Lottie Barcus Metlife 765-720-7786 lbarcus@metlife.comMETLIFE Tim Reusser Metlife 317-345-5524 treusser@metlife.comVALIC Gary Bridwell VALIC 800-892-5558 ext. 87042 gary.bridwell@valic.comVALIC Stephanie Bunday VALIC 800-892-5558 ext. 88458 stephanie.bunday@valic.comVALIC Nate Richardson VALIC 800-892-5558 ext. 88809 nathan.richardson@valic.comASPIRE Rick Colglazier CFD Investments 372-4400 rick.colglazier@cfdinvestments.comASPIRE Ryan Burchfield Edward Jones 378-0611 ryan.burchfield@edwardjones.comASPIRE Lisa Duke Edward Jones 378-0475 lisa.duke@edwardjones.comASPIRE Ken Free Edward Jones 378-0022 ken.free@edwardjones.comASPIRE Bob Lewis Edward Jones 378-5495 bob.lewis@edwardjones.comASPIRE Andy Mann Edward Jones 378-1018 andy.mann@edwardjones.comASPIRE Jim Ostermueller Edward Jones 376-0370 jim.ostermueller@edwardjones.comASPIRE Eric Robbins Edward Jones 342-8193 eric.robbins@edwardjones.comASPIRE David Weiss Edward Jones 812-375-9160 david.weiss@edwardjones.comASPIRE Mike Engelstad Engelstad Wealth Advisors812-799-0345 Michael.Engelstad @wfafinet.comASPIRE Jodi Engelstad Engelstad Wealth Advisors812-799-0345 Jodi.Engelstad @wfafinet.comASPIRE Warren Ward Warren Ward Assoc379-1120 www.warrenwardassociates.comASPIRE Philip Blum WestPoint Financial Group, LLC317-964-1849 pblum@financialguide.comASPIRE John Hettiger WestPoint Financial Group, LLC317-469-9999 jhettiger@financialguide.comASPIRE Jacob Martin WestPoint Financial Group, LLC812-603-8367 jacobmartin@financialguide.com

As of: 6/6/2014

BCSC BUYS YOUR UNUSED SICK DAYS OVER 180 FOR $43 PER DAY

FUNDS CAN ONLY BE USED FOR HEALTH-RELATED EXPENDITURES WHEN YOU RETIRE

VEBA ACCUMULATIONGROWTH RATE= 9%

18 10 ACCUMANNUAL ANNUAL VALUE OF VALUE OF

YEARS OF SICK DAYS SICK DAYS ACCUM DAYS DAYS DAYS COMPOUNDED VALUE OFAGE TEACHING GIVEN USED SICK DAYS BOUGHT BOUGHT BOUGHT GROWTH ONE DAY22 1 18 10 8 0 -$ -$ 23 2 18 10 16 0 -$ -$ - 43 22 18 10 176 0 -$ -$ - 44 23 18 10 184 4 172$ 172$ 172.00 43.00 45 24 18 10 188 8 344$ 516$ 531.48 46.87 46 25 18 10 188 8 344$ 860$ 923.31 51.09 47 26 18 10 188 8 344$ 1,204$ 1,350.41 55.69 48 27 18 10 188 8 344$ 1,548$ 1,815.95 60.70 49 28 18 10 188 8 344$ 1,892$ 2,323.38 66.16 50 29 18 10 188 8 344$ 2,236$ 2,876.49 72.12 51 30 18 10 188 8 344$ 2,580$ 3,479.37 78.61 52 31 18 10 188 8 344$ 2,924$ 4,136.52 85.68 53 32 18 10 188 8 344$ 3,268$ 4,852.80 93.39 54 33 18 10 188 8 344$ 3,612$ 5,633.55 101.80 55 34 18 10 188 8 344$ 3,956$ 6,484.57 110.96 56 35 18 10 188 8 344$ 4,300$ 7,412.19 120.94 57 36 18 10 188 8 344$ 4,644$ 8,423.28 131.83 58 37 18 10 188 8 344$ 4,988$ 9,525.38 143.69 59 38 18 10 188 8 344$ 5,332$ 10,726.66 156.63 60 39 18 10 188 8 344$ 5,676$ 12,036.06 170.72 61 40 18 10 188 8 344$ 6,020$ 13,463.31 186.09 62 41 18 10 188 8 344$ 6,364$ 15,019.00 202.84

VEBA ACCUMULATIONGROWTH RATE= 9%

18 5 ACCUMANNUAL ANNUAL VALUE OF VALUE OF

YEARS OF SICK DAYS SICK DAYS ACCUM DAYS DAYS DAYS COMPOUNDED VALUE OFAGE TEACHING GIVEN USED SICK DAYS BOUGHT BOUGHT BOUGHT GROWTH ONE DAY22 1 18 5 13 0 -$ -$ 23 2 18 5 26 0 -$ -$ - 34 13 18 5 169 0 -$ -$ - 35 14 18 5 182 2 86$ 86$ 86.00 43.00 36 15 18 5 193 13 559$ 645$ 652.74 46.87 37 16 18 5 193 13 559$ 1,204$ 1,270.49 51.09 38 17 18 5 193 13 559$ 1,763$ 1,943.83 55.69 39 18 18 5 193 13 559$ 2,322$ 2,677.78 60.70 40 19 18 5 193 13 559$ 2,881$ 3,477.77 66.16 60 39 18 5 193 13 559$ 14,061$ 48,089.39 370.79 61 40 18 5 193 13 559$ 14,620$ 52,976.43 404.16 62 41 18 5 193 13 559$ 15,179$ 58,303.31 440.54

VEBA ACCUMULATIONGROWTH RATE= 9%

18 0 ACCUMANNUAL ANNUAL VALUE OF VALUE OF

YEARS OF SICK DAYS SICK DAYS ACCUM DAYS DAYS DAYS COMPOUNDED VALUE OFAGE TEACHING GIVEN USED SICK DAYS BOUGHT BOUGHT BOUGHT GROWTH ONE DAY22 1 18 0 18 0 -$ -$ 23 2 18 0 36 0 -$ -$ - 31 10 18 0 180 0 -$ -$ - 32 11 18 0 198 18 774$ 774$ 774.00 43.00 33 12 18 0 198 18 774$ 1,548$ 1,617.66 46.87 34 13 18 0 198 18 774$ 2,322$ 2,537.25 51.09 35 14 18 0 198 18 774$ 3,096$ 3,539.60 55.69 50 29 18 0 198 18 774$ 14,706$ 35,618.29 202.84 51 30 18 0 198 18 774$ 15,480$ 39,597.93 221.09 52 31 18 0 198 18 774$ 16,254$ 43,935.75 240.99 53 32 18 0 198 18 774$ 17,028$ 48,663.96 262.68 54 33 18 0 198 18 774$ 17,802$ 53,817.72 286.32 55 34 18 0 198 18 774$ 18,576$ 59,435.32 312.09 56 35 18 0 198 18 774$ 19,350$ 65,558.49 340.18 57 36 18 0 198 18 774$ 20,124$ 72,232.76 370.79 58 37 18 0 198 18 774$ 20,898$ 79,507.71 404.16 59 38 18 0 198 18 774$ 21,672$ 87,437.40 440.54 60 39 18 0 198 18 774$ 22,446$ 96,080.77 480.19 61 40 18 0 198 18 774$ 23,220$ 105,502.03 523.40 62 41 18 0 198 18 774$ 23,994$ 115,771.22 570.51

Health Savings Account (HSA)Health Savings Account (HSA)

What are they?What are they? • HSAs are tax-advantaged medical savings accounts available HSAs are tax-advantaged medical savings accounts available

to taxpayers who are enrolled in an HSA-qualified high-to taxpayers who are enrolled in an HSA-qualified high-deductible health plan. deductible health plan.

• The funds contributed to the account are not subject to federal The funds contributed to the account are not subject to federal income tax at the time of deposit. income tax at the time of deposit.

• Unused amounts in one year can be carried over to following Unused amounts in one year can be carried over to following years and added to subsequent contributions.years and added to subsequent contributions.

HSA Contribution Limits:HSA Contribution Limits:• Individual: $3,350 for 2015Individual: $3,350 for 2015• Family: $6,650 for 2015Family: $6,650 for 2015• Individuals age 55 and over may make an additional “catch Individuals age 55 and over may make an additional “catch

up” contribution of up to $1,000 in 2014 and in 2015. up” contribution of up to $1,000 in 2014 and in 2015.

Questions?????Questions?????