/pay/,/pay/retirement/,/pay/retirement/retirement-benefits-for-uwhc/,/pay/retirement/retirement-benefits-for-uwhc/tsa/,

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UWHC,

Benefits,

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Pay & Benefits,Retirement,Retirement Benefits for UWHC

Tax Sheltered Annuities (TSA - 403b Plans)

Tax Sheltered Annuities (TSA - 403b Plans) - Pay & Benefits, Retirement, Retirement Benefits for UWHC

Focus

Benefit Summary

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deferred amount, with accumulated interest and dividends, is not subject to federal or state income taxes until it is withdrawn (usually at retirement).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.

Benefit Eligibility

All regular full-time, part-time and temporary employees of UWHC

Enrollment

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.

Account Setup

FAQ

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.

Resources

Resources