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Who is eligible?

 If you are employed by a public school or section 501(c)3 Nonprofit organization, you are eligible.  ie. religious, Charitable, educational, scientific and literary organizations 

 How does someone benefit from this program?

•  Pretax contributions 
•  Tax Deferred growth - $$$ grows faster 
•  Convenient savings 
•  Loan provision available 

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How does this program work?

• Your employer will withhold your contributions from your paycheck, and send them to the insurance company 
• Your salary is reduced by the amount you contribute into the program, and therefore, lowering your current taxable income. 
• You can generally contribute up to 20% of compensation, not to exceed $10,000. 
• Distributions are permitted only upon attaining age 59 1/2, death, disability, separation from service, or financial hardship, as defined by the IRS.

Frequently asked questions about the 403(b) Tax Sheltered Annuity