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Voluntary Retirement Savings Accounts

There are several avenues to save additional funds towards your retirement on a pre-tax basis. There is no employer contribution to these accounts. The TSA Comparison Chart along with your financial planner can assist you in making the decision on which plan to contribute to. The Benefits Office does not offer investment or financial advice.

Employees may make maximum contributions to a 403(b) plan and a 457 plan. For example, for tax year 2018, a participant could elect to contribute up to $18,500 to a 403(b) plan AND up to $18,500 to a 457 plan, for a total contribution of up to $37,000. However, contributions to a 403(b) plan are offset by any contributions to a 401(k) plan in the same tax year. Employees contributing to both a 403(b) and a 401(k) plan are restricted by IRS regulations to a combined total of $18,500.

Each employee is responsible for their own calculations and to make sure the IRS limits are not exceeded.

Following is information on the programs available to employees who wish to make a contribution through payroll deduction.

CSU Tax Sheltered Annuity 403(b) Program and Roth IRA - Administered by Fidelity

The CSU 403(b) Tax Sheltered Annuity (TSA) Program is a voluntary program that allows eligible CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments in either annuities or mutual funds, under Internal Revenue Code (IRC) Section 403(b). TSA contributions are made solely by the employee through payroll deductions, prior to federal and state taxes being calculated. Consequently, these pre-tax contributions result in reduced taxable income for participating employees. Allows an employee to defer a maximum pre-tax deduction of $18,500 for 2018. This annual limit includes any contributions to a 403(b) and a 401(k) combined.

The Roth Contribution Option allows for after-tax contributions with a variety of investment choices. The Roth 403(b) contributions are made solely by the employee through payroll deductions, after taxes have been calculated.  As such, withdrawals are tax-free if the participant has a qualified distribution. The Roth 403(b) allows an employee to defer a maximum after-tax deduction of $18,500 for 2018.  This annual limit includes any contributions to a 403(b) and 401(k) combined.

TSA enrollments, deferral changes and fund investment selections are designated by employees via Fidelity Investments (Group Plan Number 50537) online or by calling 800-343-0860.  All salary reduction changes (stop, start, increase and/or decrease) are managed by the employee.

Additional Information

  • There is no employer contribution.
  • The CSU 403(b) Tax Sheltered Annuity (TSA) Program transitioned to Fidelity Investments in April 2016.
  • The payroll contribution deadline is the 5th of the month before 9:00 p.m.
  • Employees may access enrollment, view investment information or schedule a one-on-one appointment at Fidelity NetBenefits or by contacting a Fidelity Investment Counselor at 800-343-0860.
  • Review the Fidelity Savings Made Easy - One Step at a Time flyer for helpful tips and information.
  • The CSU Chancellor’s Office administers the plan TSA program. View the TSA Transactions Chart for documents requiring Employer or Administrator signature.

To Enroll

  1. Visit https://nb.fidelity.com/public/nb/calstate/home; or
  2. Follow the Enrollment Instructions

Savings Plus Program (SPP) 401(k) and 457 - Administered by the Savings Plus Program (CalHR)

Savings Plus is a voluntary program offered by The State of California through CalHR (not CSU) and administered by Nationwide Retirement Solutions. This program allows eligible state and CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments, via two deferred compensation plans: a 401(k) and a 457. These contributions are made through payroll deductions, prior to federal and state taxes being calculated. There is also a Roth (after-tax) 401(k) plan available.

  • Eligible employees may participate in the IRC 401(k) Thrift Plan and the IRC 457 Deferred Compensation plans.
  • Administered by CalHR/State of California. (CSU does not administer the 401(k) and 457 plans.)
  • Allows a maximum pre-tax deduction of $18,500 for the 401(k) plan and $18,500 for the 457 plan for 2018.
  • There is no employer matching contribution.
  • Nationwide is the SSP Plan Administrator effective 1/1/2016.

To Enroll

  1. Go to the CalHR Savings Plus Program official website to learn about the program.
  2. Follow the steps to enroll on-line.
  3. Enrollment and changes handled between employee and CalHR.

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