Pension

Pension plans are provided through the State of Maryland or City of Baltimore, depending on employee position and bargaining unit.  If you are planning on retiring soon, please attend a retirement seminar. 

Optional 403(b) and 457(b) tax-sheltered savings programs

Eligible employees can choose to set aside a portion of their income on a pre-tax basis for retirement savings. Sections 403(b) and 457(b) of the federal tax code provide a favorable basis for saving through a reduction of gross taxable income, tax-deferred investment growth, and accrual of savings through payroll deduction.

Listed below are City Schools' authorized carriers for 403(b) and 457(b) plans. For detailed information on plans and providers, visit TSA, the third party hired by City Schools for plan compliance administration. 

TSA is responsible for processing your contribution request, reviewing all transactions for distributions from your accounts, and approving them if the distribution qualifies. They also maintain your annual contribution limits and provide the method by which your contributions are sent to the investment company you select.