 Tax Shelter Annuity (TSA)
This program is available to employees who wish to defer taxes by
contributing to a 403(b) plan with one or more of approximately 10
companies.
Tax Shelter Annuity
Provisions
Effective year |
Effective deferral limits for 403(b) |
|
Catch up contributions for 403(b) plans for individuals age 50 and above |
TOTAL with 50 and above catch up |
|
Catch up contributions for 403(b) plans for eligible individuals with 15 years of service |
TOTAL with 15 years of service catch up |
2009 |
$16,500 |
$5,500 |
$22,000 |
$3,000 |
$25,000 |
2010 |
$16,500 |
$5,500 |
$22,000 |
$3,000 |
$25,000 |
2011 |
$16,500 |
$5,500 |
$22,000 |
$3,000 |
$25,000 |
2012 |
$17,000 |
$5,500 |
$22,500 |
$3,000 |
$25,000 |
2013 |
$17,500 |
$5,500 |
$23,000 |
$3,000 |
$26,000 |
| |
| NOTE: |
| Catch-up provisions are in place for employees with 15 years or more of full-time service with the same institution. In order to qualify, a participant's prior annual contributions must not exceed $5,000 per year. (Prior contributions divided by past years of service with MDC). This extra annual amount of up to $3,000 per year, is capped at a cumulative limit of $15,000. Employees age 50 years and above may contribute an additional $5,500 per year in addition to the limit listed above. |
Deadline: Each first of month before quarter (December 1, March 1, June 1, September 1)
TSA General Information and
Forms
Additional Forms Required for Transaction Processing
TSA Consulting Group |
