Tax Sheltered Annuities
College of Central Florida offers a tax sheltered annuity program that allows employees the opportunity to save an amount from each paycheck and postpone payment of taxes on that amount until a later date. There are several companies authorized by CF to offer tax-sheltered annuities. The amount of the tax-sheltered annuity is deducted directly from your biweekly paycheck before federal income taxes are assessed. That sum is deposited into an investment account. Annuities consist of two phases, first is the accumulation period in which payments are made into an account. The second phase is the payout period in which the individual receives a fixed monthly income over a period of years. This program is an excellent consideration for those employees interested in long-term financial goals. To participate, employees should contact one or more of the companies for information. Representatives from the companies provide assistance and answer questions relating to individual financial situations.
What do I need to know about tax sheltered annuities
TSA Plan Summary Information
Tax Sheltered Annuities - 403B
Tax Sheltered Annuities 457B
TSA Consulting Group (TSACG) manages all transaction requests on behalf of CF. TSACG is responsible for the approval of items such as distributions, exchanges, transfers, loans and rollovers. CF does not sign any transaction paperwork for 403B or 457B participants. All transaction requests should be directed to the TSACG Recordkeeping office for processing and signature. TSACG’s customer service representatives are available to assist participants at 1-888-796-3786 (option 4). Transaction requests may be submitted via fax, mail, or email:
TSA Consulting Group, Inc.
Attn: Participant Transactions Department
PO Box 4037
Fort Walton Beach, FL 32549
For more information on TSA Consulting Group Inc, or 403B and 457B plans, please access the following brochure: TSA Annual Retirement Benefits Guide.