SALARY DEFERRAL PLANS. Employees are allowed to participate in tax sheltered annuity plans which the College offers provided that they are not making 401(k), 403(b) and/or 457 plan deferrals with other employers that when combined with HFCC plan participation will exceed the limit specified by the IRS through election in any one or combination of plans. The Employee is solely responsible for legal and tax liabilities associated with exceeding IRS maximum contribution amounts.
SALARY DEFERRAL PLANS. Part-time adjunct teaching faculty are allowed to participate in tax sheltered annuity plans which the College offers provided they are (1) not making 401 (K) or 457 plan deferrals, and two (2) will not exceed the limit specified by the IRS through election in any one or combination of plans.
SALARY DEFERRAL PLANS. Employees are allowed to participate in tax sheltered annuity plans which the College offers provided that they are not making 401(k), 403(b) and/or 457 plan deferrals with other employers that when combined with HFCC plan participation will exceed the limit specified by the Internal Revenue Service through election in any one or combination of plans.
