Among other benefits offered to employees is the tax-sheltered annuity program. Voluntary participation in this program provides an opportunity for employees to reduce their current federal and state income tax burdens by setting aside a portion of their salaries toward the purchase of designated investments, i.e. annuities, stocks, etc. Income tax on the diverted income is postponed to the time at which benefits are withdrawn. Normally, earnings on these investments are also free from current taxation. This can result in substantial tax savings in addition to providing a supplement to retirement income.
Listed below are the current plans offered.
403(b) Plan
- Approved Companies (click on the link to view that company's profile )
- Vist the company's website for additional information.
* Write down this access code for TIAA-CREF, you will need it to login -
Access Code: 102876
457(b) Plan
- Louisiana Deferred Compensation Plan
Additional Forms
Employees must meet with an agent for the one of the above companies to establish an account. Following are the additional forms which must be completed and submiitted to the HRM Office along and instructions:
Thrift Savings Plan (TSP)
The TSP is a retirement savings plan administered by the Federal Retirement Thrift Investment Board and available only to members of the Federal Civil Service Retirement System. For information about the TSP, please visit their website at www.tsp.gov.