As of 1-1-09 no more WRS 403(b) TSA pre-tax contributions

The IRS Final 403(b) Regulations, effective January 1, 2009, contain new reporting, accounting, and other requirements for investment providers. The Department of Employee Trust Funds (ETF), which administers the Wisconsin Retirement System (WRS), has determined that it is unable to comply with numerous recent changes in federal plan requirements, and therefore will no longer accept pre-tax 403(b) contributions as of January 1, 2009, when the new regulations go into effect.

Currently the Wisconsin Retirement System (WRS) is one of 7 investment providers in the UW TSA 403(b) plan. Other providers include Dreyfus, Fidelity, T.Rowe Price, TIAA-CREF, and the insurance companies, Lincoln National and RiverSource (Ameriprise). These investment companies continue to be part of our UW TSA Plan as before. Only approximately 2% of all UW TSA 403(b) contributors use the WRS as an investment option.

UW TSA 403(b) contributions to the WRS – which can only be submitted through the salary deferral process – will still be accepted through the end of 2008. UW TSA WRS accounts will continue to earn interest until participants take a distribution. In order to take a distribution, the participant must have terminated all WRS employment.

The UW TSA 403(b) Plan is a very low-cost, convenient, and easy way to save for your long-term goals. Here is our list of UW TSA providers. If you'd like to enroll with another provider, How to enroll in the TSA Program helps you through the enrollment process and provides links to online enrollment.

If you have questions, you may contact your benefits office or e-mail the TSA benefits specialist.

This document was last revised on August 18, 2008