Voluntary Savings Plan
Tax Sheltered Annuities (403b)
Summary
The University of North Florida offers all employees (A&P, Faculty, USPS and OPS) the opportunity to participate in tax sheltered annuities. This program offers 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. Click here for a list of available companies.
How to Enroll
- Enrollment can be done at any time.
- Contact the available company of your choice to sign a contract with the company.
- Complete a salary reduction agreement form.
- Submit a new salary reduction agreement form with the desired contribution amount to your UNF Retirement Representative.
- Changes can be made at any time.
State of Florida Deferred Compensation (457)
Summary
The State of Florida Deferred Compensation Program offers employees (A&P, Faculty, USPS and OPS) 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 State Deferred Compensation Plan is voluntary. Contributions are made through payroll deduction and forwarded to a participating investment company. Click here for the State Deferred Compensation website for additional information, including a list of participating investment companies.
How to Enroll
- Contact the Deferred Compensation Office or the available company of your choice to sign a contract with the company.
How to Change Your Contribution Amount
- If you wish to make a change in your contribution, contact your company representative.
- The State Deferred Compensation Office will notify UNF of any changes in contribution amounts.
State of Florida Deferred Compensation Office –http://www.myfloridadeferredcomp.com
Phone: (877) 299-8002
Tallahassee: (850) 413-3162
| 2007 | 2008 | |
| Elective deferral to 403(b) Tax Sheltered Annuity and/or Optional Retirement Plan employee contributions |
$15,000 | $15,500 |
| Elective deferral to 457 Deferred Compensation | $15,000 | $15,500 |
| Limit on age 50 and over catch-up contributions | $ 5,000 | $ 5,000 |
You may also qualify to contribute an additional amount if you have at least 15 years of service with UNF. Please contact your UNF Retirement Representative.