What is the tax-sheltered annuity program?
The tax-sheltered annuity (TSA) program allows UW-L employees to make voluntary, pre-tax investments toward retirement under the Internal Revenue Code 403(b). Employees choose an approved tax-sheltered annuity vendor and complete a vendor application by contacting the company of choice directly. Please note all eligible employees must be enrolled in a UW-System 403(b) account. Once the account is open, employees complete a Salary Reduction Agreement to have a specified amount deducted each pay period. You cannot file the Salary Reduction Agreement with Human Resources until you’ve completed a vendor application. Please recall, this account must be a UW-System 403(b) account and not an account with the vendor from previous employment. It’s very easy and most applications can be completed online. See detailed instructions on how to enroll. Contributions and earnings accumulate tax-free until you begin receiving them. The TSA plan is not subject to ERISA, a federal law which, in part, req
