No Tax Sheltered Annuity (TSA) Participant Fee in 2014!
January 21, 2014
Great news! There is no annual Tax Sheltered Annuity (TSA) fee for 2014. All UW TSA participants may save for their retirement without paying any UW administrative fees in 2014. In 2013 the TSA annual fee was $12.
The UW TSA 403(b) Program is a low-cost program with great investment options. With as little as $20/month for monthly employees or $8/pay period for biweekly employees, you can start a TSA deduction. All funds are no-load: there are no sales commissions or broker fees. In 2014, employees under 50 may contribute a maximum of $17,500 to the TSA Program. Employees age 50 and over can contribute an additional $5,500 for a total of $23,000. These same limits apply to the Wisconsin Deferred Compensation (WDC) program. Employees can contribute the maximum to both programs for a total of $35,000 (under age 50) or $46,000 (age 50 or older). More information on 2014 TSA and WDC limits can be found at: https://uwservice.wisc.edu/news/newsarchive-2013.php#tsa-wdc-20131120.
If you already participate in the UW TSA 403(b) Program, consider increasing your deferral. If you are not participating in the program, go to http://www.uwsa.edu/ohrwd/benefits/ret/tsa to find out how to save for your future. Don't delay!
Source: UW System Administration
Categories: Tax