VOLUNTARY & SUPPLEMENTAL RETIREMENT PLAN OPTIONS. Eligible employees may elect to participate in several tax deferred annuity and deferred compensation plans offered through Xxxxxxx State University under Internal Revenue Code provisions 403(b) and 457(b), respectively. Up to the IRS mandated maximum amount, these plans permit participants to tax shelter income into a number of investment vehicles (i.e. mutual funds). Taxes are deferred until the funds are withdrawn (usually upon retirement). Employees may participate in both the 403(b) and 457(b) plans. Xxxxxxx State does not contribute to either plan.
Appears in 4 contracts
Samples: Employee Handbook, Employee Handbook, Employee Handbook
VOLUNTARY & SUPPLEMENTAL RETIREMENT PLAN OPTIONS. Eligible employees may elect to participate in several tax deferred annuity and deferred compensation plans offered through Xxxxxxx State University under Internal Revenue Code provisions 403(b) and 457(b), respectively. Up to the IRS mandated maximum amount, these plans permit participants to tax shelter income into a number of investment vehicles (i.e. i.e., mutual funds). Taxes are deferred until the funds are withdrawn (usually upon retirement). Employees may participate in both the 403(b) and 457(b) plans. Xxxxxxx State does not contribute to either plan.
Appears in 2 contracts
Samples: Employee Handbook, Employee Handbook
