554.1 - Tax Sheltered Annuities

554.1 Tax Sheltered Annuities

P-554.1 The College allows employees the opportunity to participate in a 403(b) Tax Sheltered Annuity (TSA).
Pr-554.1.1 The Payroll Department has a list of authorized TSA companies from which employees may choose. Employees should contact the TSA company directly to obtain eligibility and enrollment information. Payroll deduction forms for TSAs are available on the intranet and in the Payroll Department.
Pr-554.1.2 The College does not contribute to an employee’s TSA nor does the College endorse or recommend any one TSA over another.
Pr-554.1.3 TSA contributions are sheltered from federal and state taxes. The maximum amount employees can shelter from taxes is determined by federal law.
Pr-554.1.4 Employees are allowed to contribute to only one (1) TSA.
Pr-554.1.5 TSA deductions are taken from 24 payrolls each calendar year.

Content Owner: Donna Davis - ddavis@stchas.edu
Page Updated by: Jessica James - jjames@stchas.edu
Revision Dates: 09/28/2004

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