Supplemental Savings Programs

The Tax Sheltered Annuity (TSA) Program is a voluntary program that allows eligible CSU employees to save toward retirement by contributing to tax-deferred investments. TSA contributions are made solely by the employee through payroll deductions, prior to federal and state taxes being calculated.

Program Details
Enrollment Information
Transfers
Change or Reallocation of TSA Contributions
Catch-Up Allowance
Loans and Hardship Withdrawals
Fees
Dual Participation
Other Savings Plans

Program Details


  • Eligible employee​s may participate in the CSU403(b) tax-sheltered annuity plan.
  • Allows an eligible employee to defer a maximum pre-tax/post-tax deduction of $18,500 for 2018.
  • This annual limit includes any contributions to a 403(b) and a 401(k) combined.
  • Roth Contributions, Brokerage Link, and Portfolio Advisory Services are some of the Program features. 

Enrollment Information


Transfers


  • If you have balances with a legacy fund sponsor and would like to transfer your 403(b) account, contact Fidelity for information and guidance.
  • Additional resources about this program:

Change or Reallocation of TSA Contributions


  • To change the amount you contribute or how your funds are invested, login to your account through Fidelity NetBenefits.
  • The cutoff day to make Contribution changes at Fidelity is the 5th of each month before 9PM, for the next month's pay check.
  • Other TSA Transactions - What would you like to do? (.pdf) (requires SJSUOne/CSU login)


Catch-Up Allowance


  • You may be eligible for the 15-Year and/or Age 50 Catch-Up Contribution Allowance.
  • If an employee qualifies for both the 15-Year and Age 50 Catch-Up, the 15-Year Catch-Up must be exhausted before the Age 50 Catch-Up is applied.
  • Employees must demonstrate eligibility by completing the 2018 TSA Maximum CatchUp Worksheet (.xls) and returning it to the Benefits Office.

Loans and Hardship Withdrawals


  • Participants can have one outstanding loan at any time with Fidelity or from an existing CSU 403(b) account with one of the following legacy vendors, TIAA, VALIC, Ameriprise, AXA Equitable, Lincoln and National Life Group.
  • Minimum loan amount is $1,000.
  • If an employee has defaulted on any prior CSU TSA 403(b) Program loan, a new loan will not be permissible.
  • Retired and separated employees are not eligible to take a loan.

Fees


  • CSU TSA Program participants pay a fixed dollar plan administration fee of $11.50 each calendar quarter ($46.00 per year).
  • This fee will be deducted from each currently contributing participant's account per year.
  • The fee will appear in your Retirement Plan account each quarter. You will see this fee as a line item quarterly statement.
  • See Understanding the fees in the CSU TSA Programs(.pdf) (requires SJSUOne/CSU login) for more details.

Dual Participation


Employees may make maximum contributions to a 403(b) plan and a 457 plan. For example, for tax year 2018, a participant could elect to contribute up to $18,500 to a 403(b) plan AND up to $18,500 to a 457 plan, for a total contribution of up to $37,000. However, contributions to a 403(b) plan are offset by any contributions to a 401(k) plan in the same tax year. Employees contributing to both a 403(b) and a 401(k) plan are restricted by IRS regulations to a combined total of $18,500.

Each employee is responsible for their own calculations and to make sure the IRS limits are not exceeded.

Savings Plus Program 401(k) and 457 

  • Eligible employees may participate in the IRC 401(k) Thrift Plan and the IRC 457 Deferred Compensation plans.
  • Administered by CalHR/State of California. (CSU does not administer the 401(k) and 457 plans.)
  • Allows a maximum pre-tax deduction of $18,500 for the 401(k) plan and $18,500 for the 457 plan for 2018.
  • There is no employer matching contribution.
  • Nationwide is the SSP Plan Administrator effective 1/1/2016.

Enrollment information:

  • Go to the CalHR Savings Plus Program official website to learn about the program.
  • Follow the steps to enroll online.
  • Enrollment and changes handled between employee and CalHR.

Other Savings Plans


U.S. Savings Bonds

  • The U.S. Department of the Treasury has ended the sale of paper U.S. Savings Bonds through employer-sponsored payroll deduction plans.
  • CSU employees may purchase U.S. Savings Bonds directly through the Treasury Direct website.

ScholarShare College Savings Plan

  • Eligible employees may participate in California's tax-advantaged 529 college savings plan.
  • The plan is sponsored by the ScholarShare Investment Board, an agency of the State of California, and is managed by TIAA-CREF.
  • Earnings in your ScholarShare plan account grow tax-deferred. When you withdraw money to pay for qualified education expenses, you pay no federal or California state income tax.
  • There is no employer matching contribution.
  • For more information or to enroll online visit scholarshare.com.

 

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