TSA 403(b) Program Salary Reduction Agreement
This Salary Reduction Agreement (SRA) authorizes the University to withhold either a dollar amount or percent of pay (salary) from each paycheck and send it to the TSA Company(ies) you choose.
It is your responsibility to confirm that your Salary Reduction Agreement has been properly processed by monitoring your earnings statement.
WARNING: If you choose 100%, then ALL of your salary -- after Social Security (FICA), insurance premiums, and required deductions -- will be sent to your TSA company and you will have a $0.00 paycheck.
The money is sent to the investment company(ies) that you select from among those authorized under the UW Tax-Sheltered Annuity (TSA)403(b) Program. The company invests your money according to your instructions on your account enrollment application.
- You can make either pre-tax or Roth after-tax contributions or a combination of both options. TIAA-CREF, Fidelity, T. Rowe Price and Lincoln offer the Roth option.
- In a Roth 403(b) account contributions are included in taxable income in the year they are made, but the account balance and earnings are not taxed when distributed (subject to certain restrictions).
- With a pre-tax 403(b) account, your contributions reduce your current taxable income. Both your principal and your earnings grow on a tax-deferred basis.
You must print the SRA and sign it. Please make a copy for your records and send the original to your benefits office. You may also fax your agreement to your institution's benefit office. The address and fax number are provided on page two of the SRA.
The investment company cannot accept your 403(b) contribution until you have opened an account. Do NOT file a Salary Reduction Agreement until you have enrolled with your investment company.
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