The Lyme-Old Lyme Public Schools offer its employees many benefits including a comprehensive health and life insurance packet, retirement for the non-certified employees, and tax sheltered annuities which are available to all employees.

Health Insurance

Life Insurance

Life Insurance Coverage in the amount of $50,000 is provided for all full-time teachers and full-time members of the AFT Union and other eligible non-certified staff. Administrators are provided with life insurance coverage in the amount of of $500,000.

Life Insurance Benefit Plan

Retirement Funds

Teachers / Administrators

Membership and participation in the Teachers' Retirement System is mandatory for all eligible teachers. Eligibilty requirements are as follows:
1.  You occupy a position which requires you to hold certification.
2.  You possess the appropriate certification for that position.
3.  You are employed for a minimum average of half-time or greater.

Your membership in the Teachers' Retirement System will begin the month in which you start working provided it is on the first working day of the month. The Central Office will provide you with a Membership Application for your completion. This form will be forwarded to the Teachers' Retirement Board in Hartford.
Teachers Retirement Board
21 Grand Street
Hartford, CT 06106-1500
1-800-504-1102 (toll free)
1-860-241-8400 (tel.)
1-860-525-6018 (fax)

Retirement Forms for Teachers


AFT / Other Non-Certified Employees

A retirement plan is in effect for eligible Non-Certified employees in the School District. The plan is paid for by the School District. All references to the employee retirement plan, pensions and retirement benefits in the AFT Agreement are illustrative only and are wholly subject to the terms and condition of the actual retirement plan. Any claims, disagreements or controversies of any nature about employee retirement benefits, the retirement plan, coverage, eligibility or any other retirement matters shall not be subject to the grievance and arbitration procedure of the AFT Agreement and instead must be taken up and addressed with the retirement plan administrator as provided in the  retirement plan. The current rate paid into the retirement fund by the District is 8%.  To be eligible for the Non-Certified retirement plan, an employee must work a minimum of 1,000 hours per year and must satisfy any other applicable eligibility requirements. Pension benefits become effective for employees on their one-year anniversary as an eligible employee. 

Tax Sheltered Annuities

403(b) and 457(b) Retirement Plans

1.    General
Regional School District 18 makes available to eligible employees the option to defer a portion of their salary into a 403(b) and/or a 457 plan. These retirement plans are covered under Internal Revenue Code Section 403(b)(1)(A)(ii) and IRC Section 457.

2.    Who can participate in a 403(b) and/or 457 Plan?
All employees of Regional School District 18 are eligible to participate in both plans. Employee participation is completely voluntary.

3.    What is a 403(b) Plan?
A 403(b) Plan, also known as a tax-sheltered annuity (TSA) Plan, is a retirement plan for certain employees of public and private schools, employees of certain tax-exempt organizations, and certain ministers. Individual accounts in a 403(b) Plan can be either of the following types:
·    an annuity contract, which is a contract provided through an insurance company
·    a custodial account which is an account invested in mutual funds

4.    What is a 457 Plan?

A 457 Plan is a deferred compensation plan described in the IRC section 457. This plan is available to certain state and local governments and non-governmental entities that are tax exempt under IRC 501. 

5.    What are some of the benefits of contributing to a 403(b) and/or 457 Plan?
You do not pay tax on the contributions in the year they are made. You do not pay tax until you begin making withdrawals from the plan, usually after you retire. The earnings on amounts in your 403(b) and/or your 457 account are not taxed until you withdraw them.

For more detailed information on the 403(b) Plan, see IRS Publication 571.
For more detailed information on the 457 Plan, see IRS Section 457.

6.    Involvement
Regional School District 18’s involvement is strictly limited to: 
⦁    Permitting authorized investment providers to publicize their products to employees under each school principal’s guidelines and authorization.
⦁    Collecting employee contributions as required by salary reduction agreements.
⦁    Remitting the contributions to the authorized investment providers.
⦁    Administering 457 Distributions; 403(b) Distributions are administered via

7.    403(b) and 457 Plan procedures
Employees interested in participating in a 403(b) and/or 457 Plan are provided with a list of authorized investment providers. It is the employee’s responsibility to contact the providers, review the information,and decide which of the providers offer the appropriate investment product for them. 

8.    Contribution Limits
The Internal Revenue Code imposes a series of limits on the amount an employee may contribute to either a 403(b) and/or a 457 Plan. The Payroll Department will monitor deferral amounts on a calendar year basis in order to comply with the IRS limits.

403(b) and 457 Plan Contribution Limits Year Amount
Elective Voluntary Deferral Limits  2018   18,500
Over 50 Catch-Up: Participants age 50 and over can make additional pre-tax deferrals  2018    6,000


The following are authorized investment providers for 403(b) Plan:

Voya (Eric Spooner) 860-580-1553
AXA Equitable 888-292-4636            
MetLife 800-638-5000
Ameriprise Financial 800-862-7919
USAA 800-531-USAA
Franklin Templeton  800-632-2301
Vanguard 800-523-1188
Fidelity 800-343-3548
403(b) Aspire-no new enrollments 866-634-5873
Putnam Investments-no new enrollments 800-225-1581
Security Benefit-no new enrollments 800-888-2461
The following are authorized investment providers for 457 Plan

Voya (Eric Spooner) 860-580-1553
AXA Equitable 888-292-4636
403(b) Aspire 866-634-5873