About 450 Lawrence school district employees now have a new way to manage parts of their retirement plan.

Recent inquires by school district employee Deborah McVey and her husband, Loren, have forced district officials to assume more responsibility for the administration of the district’s 403b retirement plan.

The McVeys said they pushed for the change because they had encountered problems with one of the investment companies that manages the district’s retirement plan. The company, Primerica Shareholder Services of Providence, R.I., declined to process paperwork changing the McVeys’ investments in the plan. The company said that was the responsibility of the school district.

After checking with state and federal officials, the McVeys learned the company was right and ultimately convinced the school district to begin handling their paperwork, which has allowed them to make changes to their retirement plan that they otherwise wouldn’t be able to make.

But the McVeys, who said they are satisfied with the district’s resolution of their case, think the change is a well-kept secret among 450 district employees with 403b accounts, which is a type of tax-deferred retirement plan.

“It would be nice to know that everyone is aware of what is going on,” Loren McVey said.

The change, though, has created additional work for the school district. In the past, the district sent lump-sum, payroll-deduction checks to each of the 50 to 60 investment companies managing 403b accounts held by district employees. Each company handled the administrative task of earmarking contributions to mutual funds or annuities specified by the employee.

Under the change, school district officials now handle that task. But thus far the district only has agreed to take on the extra administrative task for accounts that deal with Primerica.

Kathy Johnson, the district’s finance director, said she reluctantly agreed to expand the district’s administrative duties on 403b accounts. She would prefer the district have no detailed knowledge in mutual fund or annuity investment decisions made by employees.

“It’s not the best way to do it in our mind,” Johnson said. “I think it’s better if the company and employee do that direct.”

Johnson said the district would require documentation signed by the employee and an agent of the investment company before authorizing changes to 403b accounts.

While not an overwhelming administrative burden at this time, the cost of managing 403b funds would rise if more companies follow Primerica’s path.

“It’s shifting costs,” said Austin Turney, a Lawrence school board member and retired certified-public accountant. “We just have to hope they (companies) don’t pursue that.”