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What is a 403(b)/TSA

A tax-sheltered account (TSA) is an employer-sponsored retirement plan for 501(c)(3) organizations where plan assets are invested

in a

403(b) mutual fund account. A 403(b) plan is generally funded by employee salary deferrals.

      403(b)

      At A Glance

      403(b) Benefits

      Employer Benefits
      •        Generally, 403(b) plans funded solely by employee salary deferrals do not require the filing of an annual IRS Form 5500.
      •        Attract and retain quality employees
      •        Improved employee morale, productivity and employer/employee relations.

      Employee Benefits
      •        Save for retirement with pre-tax dollars.
      •        Earnings are tax deferred until withdrawn.
      •        Contribution limits are greater than those of IRAs.
      •        Contribution amounts are flexible.

      Special salary-deferral contribution limits for tenured employees may allow for greater retirement savings.

403(b)/TSA

Administrator Testing
Establishment
Employee Contribution Limit	Maximum employee deferral is the lesser of 100 percent of income or $16,500.
Catch-up Contribution	Catch-up provision of up to $5,500 for participants age 50 or older.
Employer Contributions	25% company limit on discretionary and matching contributions combined.
Loans Available	Yes, if employer elects on Plan Adoption Agreement.
Total Employee/Employer Max Contribution	2010 plan year: $49,000.
Total Employee/Employer Max Contribution with Catch Up	2010 plan year: $54,500.
Employee Eligibility Requirements	One year with 1,000 hours of service AND 21 years old.
Vesting	Employee contributions are 100 percent vested.