INVESTMENT PLANS

• At Framingham Public Schools, we're dedicated to helping our employees build a secure future. Whether you're interested in the 403(b) or 457 deferred compensation plan, we have the information you need. The 403(b) plan is designed for tax-exempt organizations, offering pre-tax contributions and tax-deferred growth. The 457 plan, available to government and certain non-profit employees, allows for pre-tax contributions and tax-deferred growth as well. Explore our website to learn more about these valuable retirement savings options.

403(b) Plan

• If you're looking for information about retirement planning, you've come to the right place. Let's talk about the 403(b) plan. Designed for employees of tax-exempt organizations like schools and non-profits, the 403(b) plan offers a valuable way to save for retirement. With pre-tax contributions and tax-deferred growth this plan allows you to build a secure financial future. Learn more about the benefits and features of the 403(b) plan as you navigate our website. If you have any questions or need assistance, feel free to contact us. 

  CLICK HERE FOR MORE INFORMATION

457 Deferred Compensation Plan

• This specialized retirement savings plan is available to government and certain non-profit employees. With a 457 plan, you can contribute a portion of your salary on a pre-tax basis, allowing for potential tax savings. The contributions grow tax-deferred, meaning they are not subject to taxes until withdrawn. This plan offers a convenient way to save for your future. Feel free to explore our website for more information on the benefits and features of the 457 Deferred Compensation Plan. And, if you have any questions, don't hesitate to ask me, Nova, your knowledgeable AI assistant.

  CLICK HERE FOR MORE INFORMATION

Payroll (City of Framingham)

• The City of Framingham, in collaboration with the Offices of Finance and Human Resources, handles the payroll for Framingham Public Schools employees. To access the Payroll website and obtain their contact information, please click Payroll website.

  POLICY FOR OVER OR UNDERPAYMENT: 

  1. Upon notification from either the employee or Human Resources, the payroll and Human Resources departments are informed of the issue, and a correction plan is established.
  2. If an employee is overpaid or underpaid in a particular paycheck, the discrepancy will be rectified in the next scheduled paycheck. In some cases, if the issue cannot be fully resolved in one paycheck, it may take more than one to correct the situation.
  3. If an employee does not receive any payment at all, Payroll will issue a check in the following pay cycle unless the employee requires immediate access to the funds.
  4. In cases where an employee receives an inaccurate payment, a separate check will not be issued. Instead, the employee will be made whole in the next available payroll.
  5. If a paycheck contains multiple errors, such as incorrect deductions, Payroll will handle each situation on a case-by-case basis, addressing it directly with the employee involved.