Tax Sheltered Annuity definition

Tax Sheltered Annuity or "TSA" means the annuity contract or Custodial Account utilizing mutual funds which meet the requirements of IRC §403(b).
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Tax Sheltered Annuity means an annuity purchased by a public school employer for an employee pursuant to provisions of the Internal Revenue Code, the premiums for which are not taxable income to the employee until received as annuity payments.
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Examples of Tax Sheltered Annuity in a sentence

  • Tax Sheltered Annuity (TSA) products offered by the District shall have the approval of the Benefits Board’s Subcommittee, which includes the Manager of Employee Benefits.

  • Employees may elect to have all or part of the severance payment placed into their account with the State of Minnesota Deferred Compensation Plan or the District sponsored Tax Sheltered Annuity (TSA) Plan consistent with the requirements of the plan.

  • If the default is not cured or objected to within the Cure Period, the non-defaulting party may exercise all remedies granted to it in Paragraphs (a) or (b) of this Section 16.

  • Tax Sheltered Annuity or Deferred Compensation enrollment will be limited to companies currently having employees enrolled in the program.

  • Tax Sheltered Annuity approved by the Superintendent or designee C.

  • The Superintendent's participation in the Tax Sheltered Annuity Program will be governed by the express terms and conditions of the District's Tax Sheltered Annuity Program Document.

  • Employees who waive health benefits may opt to invest in a 403(B) Tax Sheltered Annuity.

  • The Board gives its consent for any teacher who qualifies to participate in a "Tax Sheltered Annuity Plan" of the insurance or investment company of his/her choice subject to the conditions of Section 4.8. The annuity premium deduction may not exceed the amount stipulated in the rules governing 403(b) tax sheltered annuities.

  • The amount shall be placed in a District approved Tax Sheltered Annuity plan.

  • Initial entry or re-entry into the District matching program shall occur on September 1 or January 1 of each year provided the District Tax Sheltered Annuity form is submitted to the Human Resources office 30 days in advance.