Tax Deferral of Incentive Payout: Tax-Sheltered Annuity Plans - 403(B)

Tax Deferral of Incentive Payout: Tax-Sheltered Annuity Plans - 403(b)  The Tax Sheltered Annuity (TSA) Program is a supplemental retirement savings program authorized under Section 403(b) of the Internal Revenue Code. All Pennsylvania State System of Higher Education (PASSHE) employees are eligible to participate. Eligible employees can enroll at any time.  Through the TSA program, you can contribute a portion of your salary for retirement on a pre-tax basis. Participation in the TSA program is voluntary. You make the entire contribution; there is no employer match. Please note that PASSHE’s deferral of an employee’s salary to the TSA program is not an endorsement of the investments offered by the vendor.  To enroll in the program, select a vendor from the PASSHE list and enroll with the vendor setting up an account. Once your account is active, complete the PASSHE Tax Sheltered Annuity Salary Reduction Agreement and contact Jessica Kornhausl at 570-422-3147. You will be required to show a copy of your account confirmation to make sure you have signed up with the TSA vendor first. For more information and a list of approved PASSHE 403(b) plan vendors, please visit: http://www.passhe.edu/inside/hr/syshr/Pages/tsa.aspx