Tax Sheltered Annuities
Tax Sheltered Annuity 403(b)
A 403(b) Tax Sheltered Annuity (TSA) is a qualified retirement saving account that is available only to employees of public school systems, community colleges, universities, and certain other non-profit organizations. Employees can establish a voluntary 403(b) account and contribute a limited portion of their salary, before taxes, through payroll deduction. It is important to note that these qualified retirement plans are designed for long-term accumulation. Early withdrawals may be subject to an IRS penalty.
Employees wishing to participate can choose from a list of authorized providers that is posted at the work sites. The approved list does not reflect any opinion as to the financial strength or quality of product or service for any company. To establish a TSA, you contact an agent that is listed underneath the provider that you choose. They will do the necessary paperwork to begin your payroll deduction. To view a current listing of approved TSA companies please click the link below.