Accumulation Program for Part-time and Limited-service Employees (APPLE)
What is APPLE?
A qualified plan under 401(a) of the Internal Revenue Code for part-time and limited service employees.
- Established as an alternative to Social Security.
- Each employee of the District who is not covered under the Public Employee’s Retirement System (PERS) or the State Teachers’ Retirement System (STRS), and is not covered under a collective bargaining agreement that precludes coverage under this Plan, is an eligible employee.
- An employee is eligible to participate in the Plan after earning at least one hour of service for the District.
- Tax-deferred contributions accumulate in individual participant accounts and may provide additional retirement income.
- Combined employee/employer contribution is 7.5% of compensation.
- All assets of the Plan are held in a group annuity with a Fixed Interest Account and earn an annually adjusted minimum guaranteed interest rate. The guaranteed minimum interest rate will not be less than 1% or greater than 3%, however, the actual credited interest rate may be higher.
- A participant is always 100% vested.
Tax Sheltered Annuities
Livermore Valley Joint Unified School District is pleased to offer the 403(b) Plan (the Plan) to eligible employees in order to help save for retirement. The plan allows you to save on a tax deferred basis. Plan oversight and administration is provided by Envoy Plan Services. This brochure outlines the key provisions of the plan as well as who to contact to sign up, for plan or investment related questions, or other information. We encourage you to seriously consider taking advantage of this valuable benefit to help enhance your financial future.
We are pleased to offer the 457(b) Deferred Compensation Plan (the Plan) to eligible employees in order to help save for retirement. The plan allows you to save on a tax deferred basis. Plan oversight and administration is provided by Envoy Plan Services.
For a list of all available 403(b) and 457(b) plans and forms, explanation of salary reduction plans, and for details about participation in these retirement savings plans, please visit Envoy Plan Services.
CalPERS – (California Public Employees Retirement System)
Website for information about CalPERS, retirement calculator, CalPERS forms and link to myCalPERS, a secure self-service website for real-time account details.
CalSTRS – (California State Teachers’ Retirement System)
Website for information about CalSTRS, retirement calculator, CalSTRS forms and link to log in to your CalSTRS account.