Tax Sheltered Annuity Information

Internal Revenue Code Section 403(b) established a method by which certain employers such as qualified non-profit organizations and public education could offer their employees the ability to save for their retirement on a pre-tax basis through salary deferral. In other words, these employees can save money from their paychecks for retirement and not pay taxes on those funds until they are used during their retirement years. All employees are eligible to participate in the 403(b) and 457(b) plans immediately upon employment. 

TSA Consulting Group, Inc (TSACG) provides plan administration services regarding tax sheltered annuities (TSA's), including 403(b), 457(b), 403(b) Roth, and 457(b) Roth plans, for Balsz School District employees. An employee who wishes to enroll in any of the offered plans must first select the vendor and investment product best suited for their needs. Upon establishment of the account with the selected vendor, a Salary Reduction Agreement (SRA) form and/or deferred compensation enrollment form and any disclosure forms must be completed. These forms authorize the employer to withhold TSA contributions from the employee's pay and send those funds to the investment provider on their behalf. A SRA form and/or a deferred compensation enrollment form must be completed to start, stop or modify contributions to TSA accounts.