Tax Sheltered Annuities
A 403(b) tax-sheltered annuity (TSA) allows an employee to make contributions from his income into a retirement plan. The contributions are deducted from the employee's income and, as a result, the contributions and related benefits are not taxed until the employee withdraws them from the plan. Because the employer can also make direct contributions to the plan, the employee gains the benefit of having additional tax-free funds accruing.
|Ameriprise (River Source)
|Metropolitan Life (Travelers)
|The Legend Group
TSA deductions can be changed during the timeframes listed below ONLY:
Forms MUST be in payroll by AUGUST 10TH
To be effective the 1st of September
Forms MUST be in payroll by DECEMBER 10TH
To be effective the 1st of January
Forms MUST be in payroll by APRIL 10TH
To be effective the 1st of MAY
IMPORTANT NOTE FOR NEW ENROLLEES: Before a payroll deduction can be implemented, your TSA account must be established prior to the deadlines listed above. Please contact your financial representative to initiate your account set-up.