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Note: Employees should consult with their own tax advisors to make sure they are within the limitations set for by the IRS.
The Tax Shelter Annuity Program, also known as a (403)b, is a voluntary program that allows eligible CSU employees to save toward retirement under Internal Revenue Code [IRC Section 403(b)]. The method for this savings is to invest pre-tax contributions in tax-deferred investments, either annuities or mutual funds. TSA contributions are made solely by the employee through payroll deductions, prior to the deduction of federal and state taxes.
All CSU employees except Student Classifications.
$15 per month per company. Investments may be made with up to five companies.
Employees can defer up to $15,500 for the 2008 tax year (although the last 2008 deductions will come of the December 1st pay warrant). Employees can defer up to $16,500 for the 2009 tax year.
Each employee is responsible for their own calculations and to make sure the IRS limits are not exceeded.
Open Enrollment information for 2009 is online: http://www.calstate.edu/HR/benefitsportal/tsa/openenroll.shtml.
Information regarding the Master Administrator for the CSU program is available at: http://www.calstate.edu/HR/benefitsportal/tsa/TSA_Statement.shtml.
Enrollment is now through the CSU Benefits Portal.
As of January 1, 2009, the following companies will offer CSU employees the opportunity to establish TSA accounts:
| Company | CSUN Agent(s) | Contact information |
| VALIC | Ellen Gross |
(818) 618-5448 |
| Fidelity Investments | Boris Sokolosky | (800) 762-7978 |
| ING Life & Annuity Company | Kam Nassiri | (818) 774-0719 |
| MetLife Resources | Chris Maltese |
(805) 371-4217 |
| TIAA-Cref | Thomas W. McKinney | (626) 432-6302 |
To see each company's contact information and website, please refer to the TSA Enrollment Kit.
You may enroll throughout the year. See the attached Cutoff Dates information.
There are two "catch-up" provisions for making additional contributions; if you qualify, you may participate.
If an employee qualifies for both of the catch-up provisions, additional contributions will be first applied to the 15 year catch-up allowance and then to the age based catch-up provision.
A comparison chart is available from the California State University website.
An employee may change companies and/or dollar amounts as often as once a month through the CSU Benefits Portal.
Tax years for CSUN employees are calculated by Pay Periods: December 1st through November 30th.
An employee may cancel any or all account(s) through the CSU Benefits Portal.
An employee may contribute to up to five (5) TSA companies simultaneously. All companies must be listed when you register on the CSU Benefits Portal.
CalPERS will accept a rollover to purchase additional service credit.
When you retire you may transfer your unused vacation pay to your 403(b) plan. Normally, when you cash out unused vacation credits the payment is taxable, but if you transfer it to your 403(b) plan you won't owe taxes until you withdraw the funds.
If you would like to proceed with the transfer, please contact Payroll Administration at ext 2314 at least 90 days before separating or retiring and put your request in writing at least 45 days in advance.