California State University employees can help manage and secure their financial future by participating in the CSU Tax Sheltered Annuity (TSA) program during a special TSA enrollment period, Nov. 3 through Nov. 28.
The open period is for current participants and employees who would like to participate in the program. During that time, employees can direct their contributions to any or all of these fund sponsors: AIG Retirement, Fidelity Investments ING, MetLife, TIAA-Cref.
Employees who currently participate in the program must re-enroll through the retirement manager during the special enrollment period. During this period, initial contributions to the restructured TSA program will be processed for the December pay period and posted in January. Employees who do not re-enroll by Nov. 28 will not be able to do so until Jan. 1.
“While no one can predict what will happen with the economy, one of the best courses of action an employee can take is to become educated and informed about investment options in the TSA program,” says Mary Ford, campus benefits officer.
Ford says the CSU is making changes that will make the program easier to participate in and has streamlined its selection of investment choices.
Participating in the program is an opportunity for employees to save on a pre-tax basis towards retirement, she said. “The sooner you start saving for retirement, the more time you’ll have to build it.”
The CSU Human Resources Administration has produced a short video with information about the TSA program. The video can be viewed at www.calstate.edu/HR/benefitsportal/tsa/chancellor%5Fvideo/. Information on the TSA plan including enrollment kits is also available on the CSU's Human Resources system wide benefits portal at www.calstate.edu/hr/benefitsportal. Information is also available from the Benefits Office.
Sacramento State’s office of human resources has scheduled TSA vendor information sessions for each of the five fund sponsors. To register for a session, visit www.csus.edu/hr/TSAsessions.htm.
Attendance at these sessions will be considered release time. Sessions during work hours require supervisor approval.
About the writer: Sacramento State’s Mike Ward can be reached at mward@csus.edu
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