Tax-Sheltered Annuity (TSA) Annual Fee Deduction: What is "TSA Fee?"
December 28, 2012
Good news for those contributing to the UW Tax-Sheltered Annuity 403(b) Program! The annual fee for 2013 is $12 — reduced from $15 in 2012. This fee is deducted only in the years you contribute to the program.
If you are currently contributing to the TSA Program, your first paycheck in 2013 will have a "TSA FEE" of $12.00. For unclassified employees this is the January 2 paycheck, and for classified employees this is the January 10 paycheck.
Employees who start contributing after their first 2013 paycheck will have the $12 fee automatically deducted at the time of their first 2013 TSA contribution.
The TSA fee is deducted only once a year for each employee who contributes to the program. This very low administrative fee is used to defray costs of managing the program, including staying in compliance with IRS regulations.
Source: UW System Administration
Categories: Tax