Deferred Compensation Plans

Bakersfield City School District employees have the opportunity to enroll in two deferred compensation plans, a 403(b) plan and a 457 plan.  Employees can choose to contribute to the 403(b), the 457, or both plans. 

403(b) Tax-Sheltered Annuities Information 

**Employees must submit completed forms in person to the Payroll Office or use the OMNI link provided below to submit electronically.** 

• https://www.omni403b.com/Forms.aspx 
• 403(b) Omni Universal Availability Notice
• OMNI 403(b) Employer Report Card - 3rd Quarter 2024
• OMNI 403(b) Participating Providers
• OMNI 403(b) 2012 Salary Reduction Agreement
• OMNI 2025 Maximum Allowable Contribution Limits

457 Information

**Employees must submit completed forms in person to the Payroll Office.** 

*Please note:  Bakersfield City School District’s employer-sponsored 457 plan does not include a loan provision.  Loans may not be received from an employee’s account balance.

• CalPERS 457-Enrollment Kit
• CalPERS 457 Plan Brochure
• CalPERS 457 Plan Education for Employees
• CalPERS Cost of Waiting
• Helpful 457 Links

NEW 457 - Roth Elective Deferral  

Effective September 1, 2019, employees may elect to participate in the new Roth Elective Deferral plan option within the employer-sponsored 457 plan.

• CalPERS 457 Enrollment Kit 
• Participant Change Form
• CalPERS 457 Roth Brochure
• CP457 Roth Flyer
• CP457 Roth Plan Overview