Yes, the District allows part-time faculty to contribute a percentage, or a designated monthly amount, of their wages to a 403(b) plan. A list of plans is available in each college's payroll department. All contributions to a TSA are the sole responsibility of the individual. For other payroll deduction services offered to part-time faculty by the District, see Article 20.4.6 (page 76).

A Tax-Sheltered Annuity (TSA), also known as a 403(b) plan is named after a section of the Internal Revenue Code. It is an employer sponsored retirement savings program. Participation is limited by law to employees of public educational organizations and certain nonprofit organizations. The vast majority of participants are teachers in public schools, colleges and universities. See similar questions...

A tax-sheltered annuity is a fund that allows you to accumulate tax-deferred cash for your retirement. Your TSA usually reduces your current taxable income. You may pay even less after you've retired because you may be in a lower tax bracket. See similar questions...

The contribution limit for 2007 is $15,500 for employees under age 50 and $20,500 for those over age 50 unless the employee is eligible for any "catch up" provisions. Employees may contribute up to the limits in both a tax sheltered annuity (403b) account and a deferred compensation (457) account. Employees should discuss eligibility and contribution options with their annuity company representative. See similar questions...

far as the IRS is concerned a 403(b) is a TSA, and a TSA is a 403(b). The terms are interchangeable. Either way, participants can contribute to annuities, variable annuities or mutual funds. See similar questions...

A healthy retirement, lower taxes and tax savings. You have access to a full range of investments with TIAA-CREF and Fidelity and you can maximize your retirement savings while reducing your federal and state taxes. See similar questions...

far as the IRS is concerned a 403(b) is TSA, and a TSA is a 403b. The terms are interchangeable. Either way, participants can contribute to annuities or mutual funds. See similar questions...

No. The annuity payments are considered purchase price payments with an “Annuity” amount. Therefore, for tax purposes, the Trust’s payments are not tax deductible as interest. Many attorneys and tax advisors have not heard of Private Annuity Trusts, or perhaps they may have heard of them but choose not to make them part of their everyday practice, primarily due to their relative complexities and niche market use. See similar questions...

A17. Yes. You can claim a repayment for up to 6 years. This means that if you make a claim before 31 January 2007, you can be repaid back to April 2000. See similar questions...

The trust itself will pay no income taxes on the earnings and profit; rather, the tax characteristic of the income received by the trust is passed through to the income beneficiary. In other words, income earned by the trust which is ordinary income will be ordinary income to the income beneficiary of the trust. Tax-exempt interest earned by the trust will be tax-exempt interest to the income beneficiary. When the trust earns income comprised of more than one tax characteristic, i.e. See similar questions...

Internal Revenue Code Section 1035 allows you to exchange one annuity contract for another, or exchange a life insurance contract for an annuity–without having the transfer treated as a taxable event. A 1035 exchange may be appropriate if you own an older contract and wish to avail yourself of recently-created death benefit options, or if the performance of your subaccounts has been not been good. See similar questions...

annuity provides regular payments or income over a predetermined number of years enabling you to receive all of the principal (Contributions) and earnings. When the specified period is over, payments stop. A lifetime annuity pays you income for the rest of your life. A fixed period annuity, such as for 10 or 20 years, guarantees income for the selected number of years. See similar questions...