tax sheltered annuity
Voluntary Tax-Sheltered Annuities, provided under Section 403 (b) (1) or 403 (b) (7), are tax-advantaged retirement savings programs designed primarily for employees of educational, religious and charitable organizations. The employee's eligible contributions, made through salary reduction agreements, are sheltered from Federal and State income taxes (but not Social Security taxes) until an annuity is received or the contributions are withdrawn.
Contact the Benefits Manager to obtain information regarding salary reduction agreement and maximum earnings allowance.
Updated: Thursday, April 21, 2011
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