Waco ISD has retained First Financial Administrator Inc. (FFA) to provide administrative services concerning the following types of Tax Qualified Accounts and other payroll deducted financial products.
• Section 125 Administration
• Section 403 (b) & 403 (b)(7) Administration
• Section 457 Administration
First Financial Administrators shall provide the following services:
1. Assure that the Tax Qualified Accounts comply with IRS and rules of Employer, including but not limited to reviewing salary reduction agreements and Financial Product disclosure statements (if applicable);
2. Process and service all existing and future reductions for Financial Products;
3. Allow Waco ISD’s payroll or accounting department to submit one payment monthly to FFA for all payroll reductions/deductions for Financial Products;
4. FFA shall disburse the funds received from Waco ISD to the providers underwriters of Financial Products within two normal business days after receipt.