What is TSA consulting group?

TSA Consulting Group provides retirement plan compliance and administration services primarily to public education employers. The Company’s services include plan documents, employer and participant recordkeeping, tailored employee communications components, and web-based transaction and remittance processing.

What is a TSA pension?

A Tax Sheltered Annuity (TSA) is a pension plan for employees of nonprofit organizations as specified by the IRS, under sections 501(c)(3) and 403(b) of the Internal Revenue Code. The tax deferment allowed is like allowing for contributions a corporate employer makes to a qualified pension or profit-sharing plan.

Is TSA a qualified plan?

TSA plans are reserved for employees of tax-exempt organizations and public schools. Nonprofit organizations that exist for charitable, religious, or educational purposes and are qualified under Section 501(c)3 of the Internal Revenue Code can offer TSA plans to employees.

Who is eligible for tax-sheltered annuity?

Eligible participants include employees working for tax-exempt organizations and public schools. Nonprofit organizations that qualify under 501(c)3 of the IRS code may offer TSA plans to their employees. The terms tax-sheltered annuity and 403(b) are often used interchangeably.

Does TSA offer a pension?

TSA offers a defined benefit retirement plan.

What is a TSA 403 B plan?

A 403(b) plan (also called a tax-sheltered annuity or TSA plan) is a retirement plan offered by public schools and certain 501(c)(3) tax-exempt organizations. Employees save for retirement by contributing to individual accounts. Employers can also contribute to employees’ accounts.

Do TSA employees fly for free?

Unlike cabin crew members, flight attendants, and other airlines employees, TSA agents don’t receive perks like free space-available air travel or the occasional free meal.

How much can I put in a TSA?

How much can I contribute to the TSA Program? You may contribute as little as $8.00 biweekly or $20.00 per month. The basic maximum annual contribution limit for 2021 is $19,500.

Can I withdraw from a TSA?

The TSA plan is a long-term savings vehicle to be used for retirement. IRS regulations limit the access you have to your savings. You may withdraw your contributions only when you leave employment with the UW System, reach age 59 ½, or become disabled. Withdrawals before age 59 ½ may result in tax penalties.

When can I retire from TSA?

Under FERS, an employee who meets one of the following age and service requirements is entitled to an immediate retirement benefit: age 62 with five years of service, 60 with 20, minimum retirement age (MRA) with 30 or MRA with 10 (but with reduced benefits).

https://www.youtube.com/channel/UCAA_RZu0BEvVBEHoPLcoJvA