Tax Deferred Savings
The following programs allow eligible employees to save toward retirement by investing pre-tax contributions in tax-deferred investments. These contributions are made through payroll deductions, prior to federal and state taxes being calculated.
- Tax Shelter Annuity – 403(b), Administered by Fidelity. All employees are eligible to participate in a 403(b), regardless of time base (with the exception of certain student classifications),including rehired annuitants
- Thrift Plan – 401(k) and; Deferred Compensation Plan – 457, Administered by Savings Plus Program. Eligible for 401(k) or 457 enrollment?
Tax Deferred Savings Plans - 2016 Limits
- 403(b) = $18,000
- 401(k) = $18,000
- 457 = $18,000
- Combination of 401(k) and 403(b) = $18,000
- Combination of 401k/403b ($18,000) and 457 ($18,000) = $36,000
- Catch-up provision for all three plans for employees over the age of 50 = $6,000
- Catch-up provision for the 403b plan for employees who have worked at least 15 years may be eligible to contribute an additional $3,000 per year for up to 5 years for a total of $15,000. Employees who wish to contribute using this catch-up provision must demonstrate eligibility by completing the CSU Max Contribution Allowance Worksheet.
Savings Plus Reunites with Nationwide as New Service Provider
On January 1, 2016 Nationwide returned as the service provider for recordkeeping, marketing and education and outreach services for Savings Plus. The transition will be seamless as Savings Plus will work with Nationwide to transfer all services and functions. Note: your current User Name and Password will not carry over to Nationwide. Visit Savings Plus to set-up your new User Name and Password .
CSU Tax Sheltered Annuity (TSA) Program Changes Effective April 1, 2016
The California State University is making important changes to the Tax Sheltered Annuity (TSA) Program which will be effective April 1, 2016. The most significant change is the consolidation from five vendors (i.e. TIAA-CREF, VALIC, MetLife, ING/VOYA, and Fidelity) to one sole vendor, Fidelity Investments. In the coming months, the CSU will work directly with Fidelity Investments and the State Controller's Office to ensure a smooth transition for participants. Employees will receive additional communications directly from the CSU and Fidelity Investments regarding the transition, plan options, timelines and where to find more information.
- Click on the following links to view communications from the Chancellor's Office regarding the transition: Active Employees and Retirees and Former Employees
- Dedicated Website for CSU Tax Sheltered Annuity Plan changes
- CSU Transition Guide
More detailed information about the TSA program, including "How To" webcasts and information about contract exchanges, loans and hardship withdrawals, annual contribution limits and catch-up worksheets can be found on the CSU Systemwide Benefits Portal.
403 (b) Plan
To enroll in the 403(b) plan, visit: Net Benefits.
401(k) or 457 Plan
To enroll in either the 401(k) or 457 plan, visit: Savings Plus Program.