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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
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
$25,500
2013
$17,500
$5,500
$23,000
$3,000
$26,000
2014
$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

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