To help you focus on your retirement and savings, UWHC Employees can choose to set aside additional money for retirement on a pre-tax basis in a tax sheltered annuity account (TSA). You may choose from a list of investment companies established by UWHC, and you decide the amount you want to invest each pay check.
This program allows you to shelter a portion of your earnings by deferring it pre-tax to purchase supplemental retirement benefits. The deferred amount, with accumulated interest and dividends, is not subject to federal or state income taxes until it is withdrawn (usually at retirement). Contributions are made through the payroll deduction process only. Your wage and tax statement will be reduced by the total amount of your TSA contributions during the calendar year. Your Wisconsin Retirement System contributions and the amount withheld for Social Security taxes are not affected.
- Maximum annual deferral for 2018 is $18,500
- For employees 50 years of age or older, an additional $6,000 can be invested in 2018 for an annual maximum of $24,500
- The deferred amount can be changed or stopped at any time by submitting a Tax Sheltered Annuity (TSA) Salary Reduction Agreement to Human Resources
- Rollovers between retirement plans; 403b, 401k, 457, and IRA's are allowed
- Employees are also eligible to participate in the Wisconsin Deferred Compensation program
- For specific plan rules, please review the UWHC 403(b) Plan Document
All regular full-time, part-time and temporary employees of UWHC
You may enroll in this program at any time. Payroll deductions will begin as soon as administratively possible. To enroll, follow the instructions below to set up your account.
- Choose a vendor from the
- Contact the vendor of choice. Identify yourself as a University of Wisconsin Hospital and Clinics employee and use the account number listed on the Investment Vendor List. Request a 403(b) enrollment kit (be sure to identify yourself as a UWHC employee, and not a UW employee).
- Submit the completed enrollment application (from the enrollment kit) directly to the vendor
- When you received confirmation that your account has been established, submit a Tax Sheltered Annuity (TSA) Salary Reduction Agreement to Human Resources
I have money in a retirement plan from a former employer. Can I roll the funds into my UWHC TSA - 403(b) account?
Yes if you have an existing tax sheltered annuity (TSA) account. The UWHC TSA program will accept tax-deferred money from 401(a) qualified plans, 401(k), 403(b) and 457 governmental deferred compensation plans. Be aware that if you roll a 457 account into a non-457 plan, you may be subject to a 10 percent early withdrawal penalty.