|Retirement Savings - Tax Shelter Annuities|
As an eligible District employee, you may participate in a special tax-sheltered savings plan. This plan, known as a 403(b) or a tax-sheltered annuity (TSA), has several advantages over individual retirement accounts (IRAs). There are two significant advantages to TSAs:
To participate in a TSA, you contribute a portion of your pay to your annuity fund through automatic payroll deductions. When you participate you benefit from two tax advantages:
These two tax advantages make the TSA a good way to save for retirement, separate from any other retirement plan established by the District or the state, or any other retirement savings plans you may have arranged.
For more information about TSAs in general, or for assistance with enrolling, contact a qualified financial advisor or insurance agent. For questions regarding procedures, obtaining enrollment forms, or for a list of TSAs approved by the District please call Benefits Administration at (213) 241-4262.Available for download (click on the links below to download the information)