Green Cove Springs, Florida
Agenda Item #74
Item Title
C-42 Agreement between School Board and TSA Consulting Group. Inc.
Issue/Rationale
In order to meet IRS requirements the need to retain administration services is required for the School Board to be in compliance with the new IRS Regulations for the voluntary retirement program under Sections 403(b) and 457 of the Internal Revenue Code.
Recommended Action
Approve six (6) year renewal contract to implement an Agreement between the Clay County School Board and TSA Consulting Group, Inc.
Financial Impact
Financial impact to the School Board for Comprehensive Program based on Category 1 (less than 5,000 employees):
Year 1 - $5.73 per year per employee billed monthly: 7/1/2014 to 6/30/2015 with a 3% increase yearly.
Rates are based upon all eligible employees as per contract.
Submitted By
Dr. George F. Copeland, C.P.A., Assistant Superintendent for Business Affairs
Data Source: Nancy G. Racine, Director of Purchasing, Accounts Payable and Materials Management
Attachment: School District of Clay County FL - Contract 7-1-14 smm.pdf