CSU Tax Sheltered Annuity (TSA) Program
The CSU 403(b) Tax Sheltered Annuity (TSA) Program is a voluntary program that allows eligible CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments in either annuities or mutual funds, under Internal Revenue Code (IRC) Section 403(b). TSA contributions are made solely by the employee through payroll deductions, prior to federal and state taxes being calculated. Consequently, these pre-tax contributions result in reduced taxable income for participating employees.
Tax-Sheltered Annuity (TSA) Program 403(b)
- Eligible employees may participate in an IRC 403(b) tax-sheltered annuity plan.
- Allows an employee to defer a maximum pre-tax deduction of $18,000 for 2016.
- There is no employer matching contribution.
- Review the TSA program and enroll online through Fidelity NetBenefits
- Employees may be eligible for the 15-Year and/or Age 50 Catch-Up.
- If an employee qualifies for both the 15-Year and Age 50 Catch-Up, the 15-Year Catch-Up must be exhausted before the Age 50 Catch-Up is applied.
- Employees must demonstrate eligibility by completing the CSU Maximum Contribution Worksheet, and returning it to the Benefits Office.
Change or Reallocation of TSA Contributions
- To change the amount you contribute or how your funds are invested, login to your account through Fidelity NetBenefits
- The cutoff day to make changes at Fidelity is the 5th of each month.
Additional information regarding maximum contribution amounts, catch-up allowances, and administration of the TSA program, along with comparison information with the 401(k) and 457 plans, can be found on the following Comparison Chart. You may also contact the campus Benefits Office.
Information regarding the 401(k) and the 457 plans administered by the Department of Personnel Administration (DPA) Savings Plus Program can be obtained from their website at https://www.savingsplusnow.com.