Tax Shelter Annuity Programs

The CSU 403(b) Tax Sheltered Annuity (TSA) Program is a voluntary program that allows eligible CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments in either annuities or mutual funds, under Internal Revenue Code (IRC) Section 403(b). TSA contributions are made solely by the employee through payroll deductions, prior to federal and state taxes being calculated. Consequently, these pre-tax contributions result in reduced taxable income for participating employees.

The Internal Revenue Code (IRC) establishes specific limits that govern the amounts an individual can contribute to a 403(b) plan. As a result of the federally mandated Economic Growth Tax and Reconciliation Relief Act (EGTRRA). Currently, two IRC limits apply:

  • IRC Section 402(g) "elective deferral limit" and
  • IRC Section 415(c) "percentage of compensation" limit

The CSU has selected Fidelity Investments as the Program’s sole recordkeeper. 

Participant accounts with the TSA Program’s five legacy recordkeepers (MetLife, TIAA, VALIC, Voya, or Fidelity) will be transferred to the active investment lineup with Fidelity. Please review the Guide for the Transition to Fidelity for important information.