Voluntary Retirement Savings Plans

Tax Sheltered Annuities (403b)

Summary

The University of North Florida offers all employees the opportunity to participate in tax sheltered annuities. Tax sheltered annuities allow employees the opportunity to save money for retirement while reducing their current income tax liability. Taxes on earnings and contributions are deferred until you receive them as income. Contributing to a tax sheltered annuity is voluntary. Contributions are made through payroll deduction and forwarded to a participating investment company.

How to enroll

How to change/stop your contribution amount

State of Florida Deferred Compensation (457)

Summary

The deferred compensation program through the state of Florida offers all employees the opportunity to save money for retirement while reducing their current income tax liability. Taxes on earnings and contributions are deferred until you receive them as income. Contributing to a deferred compensation plan is voluntary. Contributions are made through payroll deduction and forwarded to a participating investment company. Refer to the Bureau of Deferred Compensation web page for additional information, including a list of participating investment companies.

How to enroll

How to change/stop your contribution amount

  • Contact the participating investment company directly to make a change to your contribution amount.
  • The Bureau of Deferred Compensation will notify UNF of any changes in contribution amounts.

Contribution Limits for 2014 

Contribution limits for voluntary retirement savings plans

Internal Revenue Service (IRS) Retirement Contribution Limits:*

Elective deferral to 403(b) Tax Sheltered Annuity and/or Optional Retirement Plan employee contributions $17,500
Elective deferral to 457 Deferred Compensation $17,500
Limit on age 50 and over catch-up contributions $5,500

*You may qualify to contribute an additional amount if you have at least 15 years of service with UNF. Contact the Office of Human Resources for more information.


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