Retirement Programs

Universal Availability Notice

Most employees are eligible to participate and voluntarily save for retirement with a tax-deferred compensation plan. For additional information, please see the Meaningful Notice/Plan Summary Information.

Retirement Programs

MC Employees do not Participate in Social Security

Participation in one of the retirement programs listed below may be
required

  • Part-Time Employees, not benefits eligible, will be required to participate in:

U.S. BENCOR/MidAmerica
A defined contribution retirement plan required as an alternate to Social Security.
(800) 430-7999

  • Full-Time employees or benefits-eligible Part-Time employees, may be eligible for participation in:

Teacher Retirement System Of Texas (TRS)
A traditional defined benefit State retirement program in which investment risks are generally absorbed by the State.
(800) 223-8778

  • Full-Time faculty, librarians, and certain administrators may be eligible to participate in:

Optional Retirement Program (ORP)
An individualized defined contribution plan in which each participant selects from a variety of investments offered by approved companies through annuity contracts or mutual fund investments.

Tax Deferred Compensation Plans

7% Employer-paid Tax Deferred Annuity Plan

Full-Time employees receive tax deferred annuity payments in the amount of 7% of base salary, paid by the College. Employees with temporary full-time assignments are not eligible for this benefit. The plan is administered by:

Voya Financial
(432) 520-8335 
jamie.phillips@voyafa.com

Optional Tax-Deferred Annuity Contributions

All employees, with the exception of student employees, are eligible to participate in the 403(b) and 457(b) plans immediately upon employment. Employees may make elective deferrals to an approved vendor up to the IRS maximum allowable contributions. The contributions are pre-tax and made through payroll deduction. To participate, you will need to set up your contract with an approved vendor and submit 403(b) Salary Reduction Agreement or 457(b) Enrollment Form to the Human Resources/Payroll office. A list of approved vendors and required forms may be found on the TSA Consulting Group, Inc. website.

Distribution Procedures

403(b) & 457(b) Plan Information for Employees & Advisors

U.S. OMNI & TSACG Compliance Services (USOTCS) has been contracted to provide 403(b) & 457(b) plan administration services. USOTCS will be responsible for the approval of all plan-level transactions, including distributions, exchanges, transfers, loans, and rollovers. Additional information on plan transactions may be found on the USOTCS website.

Submit Transaction Online

The fastest way to receive a transaction approval is to submit your transaction online by clicking the link below.

Online Distribution System

Original Signature Required

If an original signature is required on investment provider paperwork, mail the documents to USOTCS for manual processing to the following address:

U.S. OMNI & TSACG Compliance Services
Attn: Participant Transaction Department
P.O. Box 4037
Fort Walton Beach, FL 32549-4037

Customer service representatives can be reached at (888) 796-3786 or recordkeeping@tsacg.com.

U.S. BENCOR/MidAmerica

Access your account online to request a distribution. Log into your account at www.myMidAmerica.com. Once logged in, select Request a Distribution from the Transactions drop-down menu. If you are a first time user, you can set up your account by selecting New User from the login screen.

If you have questions about your distribution, you can call U.S. BENCOR/MidAmerica at (800) 430-7999 or email accountservices@myMidAmerica.com.