Tax Sheltered Annuity Plan: 403(b)

Last Updated: 11/9/2020 12:05 PM

Tax Sheltered Annuity Plan: 403(b)

 

 

As an employee of a school district, you have the opportunity to set aside additional money for retirement in a tax-sheltered account. This retirement account, which is funded through payroll deduction, is call a 403(b) tax-sheltered account or TSA. A 403(b) plan allows you to save pre-tax earnings for your retirement, which lowers your current income tax burden. The money you save in a TSA is in addition to your PSERS retirement benefit and Social Security benefits. Social Security credits are not affected by your TSA contribution.

The rules and regulations surrounding Tax Sheltered Annuities are administered by the IRS. For more information about 403(b) plans, click here

Rose Tree Media School District’s 403(b) program is administered by TSA Consulting Group. If you wish to participate in a 403(b) Tax Sheltered Annuity program, you will need to select a vendor from Rose Tree Media School District’s list of approved vendors available on the TSA website. You should contact the vendor of your choice and complete any paperwork required by the vendor to establish an account. Once this is complete, you will need to return the Salary Reduction Agreement form to the Business Office for processing.

Annual 403(b) Presentation 

TSA Consulting Group

 

For a Salary Reduction Agreement, click here

For RTMSD’s Summary Plan Document, click here