Deferred Compensation Plan Provider Services

Gilbert Public Schools intends to establish the services and responsibilities of a plan provider in connection with the district's Special Pay Buyback Plan (Plan).

The Plan Provider will serve as the District’s designated employee education, financial guidance, and account setup provider for employees participating in the Special Pay Buyback program.

The Plan Provider is not the Plan Administrator and shall not be responsible for determining employee eligibility, calculating eligible buyback amounts, administering District leave policies, interpreting collective bargaining agreements, or approving the amount of compensation available for buyback.

The Plan Provider shall meet individually with eligible employees to explain the available options for directing eligible Special Pay Buyback funds to an HRA (Health Retirement Arrangement) and/or 403(b), discuss the financial considerations, benefits, risks, limitations, and potential advantages and disadvantages of each option, assist the employee in making an informed selection, and complete the account establishment process for the option selected by the employee.

It is the intent of Gilbert Public Schools to establish Deferred Compensation Plan Provider Services under a zero direct employer cost structure.

Gilbert Public Schools (GPS) District Office is in the Town of Gilbert, which is a suburb of the greater Phoenix area in the state of Arizona and Maricopa County. GPS is comprised of five (5) comprehensive high schools, five (5) comprehensive junior high schools, twenty-four (24) comprehensive elementary schools, one (1) alternative learning high school, and three (3) non-traditional academies servicing over 30,000 students living in communities within the Town of Gilbert and the City of Mesa, and about 4,000 full-time and part-time employees. The District offices include the District Administration Complex at 140 S Gilbert Road as well as Technology Services and Security located at Greenfield Road and Elliot Road, and Maintenance and Operations, and Community Education facilities located near Power Road and Guadalupe Road. The District operates on a July 1 to June 30 fiscal year.