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Third Party Administrator Agreement
Waco ISD has retrained 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
IRC 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.
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