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403(b) Retirement Savings Plan
The Hamilton County School System offers a 403(b) Tax Sheltered Annuity Plan for
all employees.
A 403(b) allows employees to make elective deferrals towards a retirement plan (these
are contributions made under a salary reduction agreement). The employer withholds
money from the employee’s paycheck to contribute directly into a 403(b) account.
The employee does not pay taxes on these contributions until the money is withdrawn,
usually after the employee retires.
The limit on elective deferrals for 2008 is $15,500. Refer to the Tax Sheltered
Annuities document below for the list of participating companies that provide annuities
or funds available to payroll deduct tax deferred money for retirement savings.
Contact the vendor of your choice for more information. The vendor will assist you
with the process of setting up a payroll deduction and will assist you with any
questions you may have.
Click on link below for a list of participating vendors.
Tax Sheltered Annuities
(.pdf)
