Florida State University offers all employees (A&P, Faculty, USPS and OPS) the opportunity to participate in a 403(b) Tax-Sheltered Annuity plan. This plan allows participants to save money for retirement while reducing their current income tax liability. Taxes on earnings and contributions are deferred until received as income, preferably at retirement. Contributing to a 403(b) Tax-Sheltered Annuity is voluntary. All contributions are made through payroll deduction on a pre-tax basis and are forwarded to a participating investment company where they are invested per the participating employee's instructions.
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If you have not already done so, please contact one of the investment companies (listed above) to create a new 403(b) account. New or existing contributions can be started/stopped/changed at any time through the Online 403(b) Tax-Sheltered Annuity Salary Reduction Agreement form.
Participants are permitted to make voluntary contributions of $10 bi-weekly, up to the annual IRS limits (based on age of the participant) to 403(b) plans. For the 2018 calendar year, the limits are as follows: